©
PENNY-WISE
The Official Publication of Early American Coppers, Inc.
Volume XLIII Numter 5 Septemter 2009 Consecutive Issue #254
Copyright 2009 Early American Coppers, Inc, All Rights Reserved
TABLE OF CONTENTS
List of Club Officials
254
Introduction by the Editor
255
Original Articles
Del Bland
256
Update on Provenances: 1793 NC-3, 1793 S-15,
1801 S-223
Michael S. McLaughlin
Meetings and Membership Notes
259
Fugio Cent Dies Study
Greg Fitzgibbon
266
EAC Region 3 Meeting, Baltimore
EAC Sale Committee
267
EAC Sale Solicitation
EAC Board
267
EAC Board Resolution
Denis Loring
267
Region 5 Chair Announcement
Chris McCawley and Bob Grellman
268
2009 EAC Sale Report
Chuck Heck
268
2009 EAC Seminars on DVD
Chuck Heck and John Kraljevich
271
Garvin Committee Report and Applications
Rod Burress
Don Valenziano Obituary and Reminiscences
274
Candidates for Membership
Harry Salyards
274
Obituary
Rod Widok
274
Remembering a Friend
Jim Neiswinter
275
My Friend Don
Chris McCawley
Miscellaneous Collector Notes
276
Don Valenziano
James Higby
280
Some Random Late Summertime Musings on
Copper and Other Delights from East
Kumquat
Greg Heim
282
The Seemingly “Cents-Less” Collector
Howard Spencer Pitkow
283
Some Additional Early American Copper Finds
San Francisco Daily Examiner
285
Valuable Copper
Jim Neiswinter
288
The Holmes S-264
Alan V. Weinberg
289
Observations on “Slab Wars”
Letter to the Editor
292
From the Internet
Gene Anderson
292
Swaps and Sales
302
CLUB OFFICIALS
National Officers
President. Denis Coring (dwloring@aol.com)
Box 32115, Palm Beach Gardens, FL 33420
Vice President. Bim Gander (bimgander@cox.net)
12770 NW Steelhead Falls Drive, Terrebonne, OR 97760
Secretary. John Kraljevich (jkamericana@gmail.com)
PO Box 2371 88, New York NY 10023-7188
Treasurer. Chuck Heck (check48@comcast.net)
P.O. Box 3498, Lantana, FL 33465
Editor of Penny-Wise. Harry E. Salyards (hpsalyar@tcgcs.com)
606 N. Minnesota Ave., Hastings, NE 68901
National Positions
Membership Chairman: Rod Burress
9743 Leacrest, Cincinnati, OH 45215
Historian: Mark Borckhardt (markb@heritagegalleries.com)
1625 Warm Springs Dr., Allen, TX 75002
Regional Chairs and Secretaries
Region 1: New England:
Chairman: Charles Davis (numislit@aol.com)
Secretary: Howard Barron (halfcent@adelpha.net)
Region 2: New York-New Jersey :
Chairman: H. Craig Hamling (hcraig@warwick.net)
Secretary: Greg Heim (gynandroidhead@comcast.net)
Region 3: Mid-Atlantic (PA, DE, MD, DC, VA, WV, NC)
Chairman: Brett Dudek (bad 30 99@yahoo.com)
Secretary: Greg Fitzgibbon (FitzgGl@aol.com)
Region 4: Southeast (SC, GA, FL, AL, MS, TN)
Chairman: Bob Grellman (ljefferys@cfl.rr.com)
Secretary: Ron Tagney (RonTagney@aol.com)
Region 5: North Central (MI, OH, KY, IN, IL, WI, MN, lA, NE, SD, ND)
Chairman: Scott Barrett (Lawman3212@aol.com)
Secretary: Leo Courshon (oct02novl6@comcast.net)
Region 6: South Central (KS, MO, AR, LA, TX, OK, NM, CO)
Chairman: Russ Butcher (mrbbl794@sbcglobal.net)
Secretary: Chris McCawley (cmccawley@aol.com)
Region 7: West (WY, MT, ID, UT, NV, AZ, CA, OR, WA, AK, HI)
Chairman: Randy Snyder (copperhobbie@yahoo.com)
Secretary: Tom Gesner (tom_gesner@chiron.com)
Region 8: Internet
Chairman: Bill Eckberg (region8@eacs.org)
Webmaster: H. Craig Hamling (info@eacs.org)
The Board of Governors is composed of the 5 National Officers and the 8 Regional Chairmen.
Penny-Wise has been published every two months since September 1967. Its founding editor was Warren A.
Lapp (1915-1993). Harry E. Salyards has served as Editor-in-Chief since 1986. Contributing Editors: Denis W.
Loring, John D. Wright and William R. Eckberg.
Printed by Advance Graphics and Printing, Chandler, OK.
INTRODUCTION BY THE EDITOR:
HOW, AS COLLECTORS, DO WE MEASURE SUCCESS?
Harry E. Salyards
Let’s take the options from the bottom:
Do we measure it in the ‘killings’ we’ve made, the coins we’ve ‘ripped,’ the ‘suckers’
we’ve stuck with our own ‘mistakes’?
Do we measure it in our crafty eye, ever alert for the coin that’s a candidate for somebody
else’s ‘official’ higher grade?
Do we measure it in the minutiae we can master, heads bobbing between the coin and our
paper notes or laptops, ever searching out the absolutely rarest tree, while totally oblivious to the
forest?
Do we measure it in one-upmanship that never rests? (I’m remembering a certain half
cent offering a quarter century ago, when bids were being accepted as of such-and-such a date —
and the calls started coming in at Midnight!)
And do we really still believe that Net Grading can be ‘mastered,’ as a science!
Or do we measure our success in the gradual accumulation of knowledge in the field,
recognizing that we will all make mistakes, and that there are No Absolutes: No Absolute
Grades, No Absolute Condition Censuses, No Absolute Values?
Do we measure it in the constant refinement of our standards — both in the coins that we
will consider adding to our collections, and the people with whom we will deal?
Or — the finest criterion of all — do we measure it in the lifelong friendships we make, the
bonds forged over years, compared to which the buying and the selling are, indeed, nothing of
consequence?
There will always be more coins. There will never be another Don Valenziano. There
will never be another Dan Holmes. And this issue, we raise a toast to both the one who is gone
from us, and the one who bears his infirmity with such dignity and grace.
In their examples, my friends, is how we should measure success.
255
UPDATE ON PROVENANCES: 1793 NC-3, 1793 S-15, 1801 S-223
Del Bland
Here are my updates, with ehanges and correetions, for three more varieties in the Early Date
Condition Census. Putting this together is time-eonsuming but very enjoyable. I have so mueh
information that I likely will never get it all done! But my researeh eontinues, and additional
updates will be published.
1793 Breen 15: Dies 10-H. Sheldon 1793 NC-3
VG-7: Diseovered in Oetober 1877 by David Proskey — Seott & Company 10/1877:201 — to
H.G. Sampson for Lorin G. Parmelee — ^New York Coin & Stamp Co, 6/1890:671, $79 — Charles
Steigerwalt, 10/17/1890, $90 — Dr. Thomas Hall, 9/7/1909 — Virgil M. Brand 2/7/1941 — B. G.
Johnson (St. Louis Stamp & Coin Co.), 5/17/1941, $2500 — James Kelly $2750 — Major Roseoe
E. Staples, who was killed in World War II by a Japanese sniper on 8/2/1943, during the taking
of Munda Airfield in the Solomon Islands — Beulah Staples (Roseoe’s wife) — Republie Coin and
Jewelry — Ameriean Numismatie Rarities, 11/2004:130, $862,500 — John Gerwasoni (Scorpio
Monetary Distributors). Obverse illustrated in the 1879 Frossard Monograph. Obverse and
Reverse illustrated in The United States Coinage of 1793 by Sylvester S. Crosby, 1897. Obverse
illustrated in A Guidebook of United States Coins (50 editions). Scott called this coin “Fair”;
Steigerwalt graded it ‘Fine and Kelly described it as “VF. ”
AG-3: Discovered in Philadelphia by William Rabin and advertised by him in the August and
September 1941 issues of The Numismatist for $2500 — James Kelly 5/1949:1044, $1250 — Eloyd
T. Starr — Stack’s 6/1984:7, $51,500 — I. Tatnall Starr, 6/12/1989 — R. E. Naftzger, Jr.,
2/23/1992 — Eric Streiner — Jay Parrino (The Mint), 10/7/1995 — Anthony Terranova,
10/17/1995 — Daniel W. Holmes, Jr. 207.4 grains. Obverse and reverse illustrated in Noyes.
AG-3: Discovered by Ed. Erossard in the Collection of George W. Merritt — Ed. Erossard
1/1879:90, $45.25 — Eerguson Haines — W. Elliot Woodward #32, 10/1880:189, $60 — H. G.
Sampson — Eerguson Haines — S. H. & H. Chapman 10/1888:846, withdrawn — Eerguson Haines
(advertised for sale for $100 by A. E. Marks, Woodfords, Maine, in the July 1893 issue of The
Numismatist, but not sold) — Ed. Erossard #130, 12/1894:700, $120 — J. Sanford Saltus,
5/16/1906 — American Numismatic Society. Reverse illustrated in the 1879 Frossard
Monograph and in The Standard Catalogue of United States Coins, Wayte Raymond, editor
(various editions). Obverse and reverse illustrated in the 1914 ANS Exhibition Catalogue, in
Early American Cents, and in Penny Whimsy.
1793 Breen 22: Dies 14-K. Sheldon 15
F-15: Sharpness of VF-25, but finely porous. A. Charles Gies, 2/1938, $200 — George H.
Clapp — American Numismatic Society. Obverse illustrated in Early American Cents and in
Penny Whimsy. Obverse and reverse illustrated in Noyes.
F-12: James S. Bryant — Lyman H. Low, 12/1906: 116, $11 — C. A. Carlberg — B. Max Mehl
#45, 10/1917:265, $87.50— Dr. G. E. E. Wilharm— B. Max Mehl #59, 2/1921:1321, $174—
Henry C. Hines — Carl Wurtzbach, 12/1944 — Dr. William H. Sheldon, 4/19/1972 — R. E.
Naftzger, Jr., 2/23/1992 — Eric Streiner, 4/2/1992 — Joel Spingam — L. Michael Lawrence.
256
VG-8: Copley Coin Co., circa 1958 — Jeff Bender — Stack’s 6/1960:12, $1400 — Dorothy
Nelson — Stack’s 2/1976:10, $2300 — William R. T. Smith — Dr. Edward R. Bush, 4/1979 — G.
Lee Kuntz — Superior Galleries, 10/1991:18, $13,750 — John R. Frankenfield.
VG-7: With planchet defects in central area of reverse. Sharpness of F-12, but initials
scratched in obverse fields, porous and pitted at N in UNITED. Discovered unattributed by
Walter Breen circa 1959 at a Columbus, Ohio coin convention — A. M. “Arf’ Kagin
(Hollinbeck- Kagin Coin Co.) — A. Kosoff 10/1961:17, $4200 — Hollinbeck-Kagin Coin Co.
#250, Part I, 6/1963:349, $8250 — Hollinbeck-Kagin Coin Co., privately, 1/1972 — John W.
Adams, 11/1972 — Denis W. Coring, 11/1972 — Robinson S. Brown, Jr. — Superior Galleries,
9/1986:21, $6325— Pete Smith.
VG-7: Charles E. Clapp, Sr., 12/1924 — George H. Clapp, 3/31/1949 — Carnegie Institute.
VG-7: With some planchet defects on reverse. W. B. Guy — Henry Chapman, 11/1911:350,
$42.50 — Dr. George P. French, 3/21/1929 — B. Max Mehl Fixed Price List, 1929:17, $225 —
Charles M. Williams — ^Numismatic Gallery, privately — Floyd T. Starr — Stack’s 6/1984:23,
$10,450 — Jack H. Robinson — Superior Galleries, 1/1989:20, $13,750 — Daniel W. Holmes, Jr.
G-5: With a planchet defect on obverse. Sylvester S. Crosby — John W. Haseltine #70, 6/1883:
1490, $4 — John W; Haseltine — Charles E. Clapp, Sr, 4/1924, $65 — George H. Clapp —
American Numismatic Society — traded on 1/23/1969 to Dorothy I. Paschal for 1800 Breen-11
(Sheldon NC-2), 6/1/1977 — Philip Van Cleave — Kagin’s Numimatic Auctions #340, 1/1986:
5017, $7700 — James Neiswinter. The Discovery Coin. Obverse and reverse illustrated on the
Crosby-Levick plate.
G-4: Hon. W. A. P. Thompson — Henry Chapman 5/1915:1177, $7.25 — Carl Wurtzbach,
5/26/1919 — Virgil M. Brand, 1934 — Armin W. Brand, 1938 — B. G. Johnson (St. Louis Stamp &
Coin Co.), 4/18/1941, $50 — Sol Kaplan — unknown — ^New England Rare Coin Galleries,
privately 4/1981 — Denis W. Coring, 4/1981 — Fred H. Borcherdt — James E. Long, Jr. (J.E.L.
Coins), 7/21/1996 — Paul Langseth, 9/29/1997 — W. M. “Jack” Wadlington, 11/9/2006 — Dr.
Ralph W. Rucker.
G-4: With small planchet striations on lower obverse and covering reverse. M. H. Bolender,
privately, 8/1935 — George H. Clapp — J. C. Morgenthau & Co, 3/1938:384, $30 — Charles J.
Dochkus — B. M. Douglas as “Crosby 12-K” — Roger S. Cohen, Jr. — ^New Netherlands Coin
Co., #42, 10/1953:193, $310 — Walter Breen — Dorothy I. Paschal — John W. Adams, 8/1972 —
Denis W. Coring, 5/1974 — Dr. Robert J. Shalowitz, 8/1974 — Roger S. Cohen, Jr. — Superior
Galleries 2/1992:648, $13,750 — L. Michael Lawrence — Joel Spingarn — L. Michael Lawrence,
12/1996 — Denis W. Coring, 12/1996 — Dr. Bruce Reinoehl, 4/18/2009 — Terry Denman.
Fr.-2: Purchased unattributed on 4/12/1970 from a small downtown New York City mail bid
sale by Herbert A. Silberman, 11/1977 — Chuck Furjanic, 11/1977, $1250 — Denis W. Coring,
12/1977 — Jules Reiver.
Fr.-2: M. A. Brown — S. H. & H. Chapman 4/1897:1033, $2.75 — Hon. W. A. P. Thompson —
Henry Chapman 5/1915: 1178, $2 — unknown — Christian M. Petersen, $50 — Hollinbeck-Kagin
Coin Co. — Hollinbeck-Kagin Coin Co. #250, Part VI, 2/1965:154, $1750 — Hollinbeck-Kagin
Coin Co. — Hollinbeck-Kagin Coin Co. #299, 1/1973:234, $315 — Denis W. Coring, 7/1973 — Dr.
C. R. Chambers — Richard V. Punchard — Robinson S. Brown, Jr. — Superior Stamp & Coin Co.
1/1996:20, $9350 — Larry Briggs Rare Coins.
257
Fr,-2: Dug up in Burlington County, New Jersey by Wayne Shelby — Chris Victor-MeCawley
(CVM), 1/1/2006 — Shaun Yaneey (Colleetor’s Coin Co.) — Chris Vietor-MeCawley — Jerry
Stubblefield.
1801 Breen 17: Dies 9-L. Sheldon 223
MS-63: George F. Seavey — William H. Strobridge, 1873:304 — Lorin G. Parmelee — ^New York
Coin & Stamp Co., 6/1890:790, $22 — S. H. & H. Chapman — John G Mills — S. H. & H.
Chapman 4/1904:1260, $52.50 — Joseph F. Negreen — Virgil M. Brand — B. G. Johnson (St.
Louis Stamp & Coin Co.), 6/28/1944, $125 — Thomas L. Elder, 7/8/1944, $135 — Leonard M.
Holland — Pennypaeker Auetion Centre, 5/8/1959, $150 — Then in a private auetion at the
Reading Hotel, 5/8/1959, $525 — Louis Helfenstein — Lester Merkin 8/1964:22, $2200 — R. E.
Naftzger, Jr., 2/23/1992 — Erie Streiner — Jay Parrino (The Mint). State V. Obverse and reverse
illustrated in Noyes.
MS-60: Pound in an old trunk in Rhode Island — Clarenee S. Bement — Henry Chapman 5/1916:
312, $210 — Dr. Henry W. Beckwith — S H. Chapman 4/1923:23, $105 — Howard R. Newcomb —
J. C. Morgenthau & Co #458, 2/1945:331, $152.50 — Lloyd T. Starr — Stack’s 6/1984:37,
$3740 — Douglas P. Bird — Michael Kramer — Heritage Numismatic Auctions 1/1996:6490. State
III. Obverse and reverse illustrated in Newcomb. Obverse illustrated in Early American Cents
and in Penny Whimsy.
MS-60: C. David Pierce — Hollinbeck Stamp & Coin Co. PPL, 1945:28, $250 — Standish Hall —
Hollinbeck Stamp & Coin Co PPL #25, 1946:28, $250 — Hollinbeck Stamp & Coin Co. #43,
2/1947:2297, $280 — Hollinbeck Stamp & Coin Co. — Hollinbeck Stamp & Coin Co. #47,
6/1947:570 — Hollinbeck Stamp & Coin Co.-Hollinbeck Stamp & Coin Co. #90, 10/1950: 1853,
$101 — C. Douglas Smith, 1971 — Robinson S. Brown, Jr. — Superior Galleries 9/1986: 329,
$3190 — Anthony Terranova — Stack’s — Andrew M. Hain.
AU-55: Dr. George P. Prench, 3/21/1929— B. Max Mehl PPL, 1929:255, $250— Henry A.
Sternberg, 1930 — T. James Clarke — Dr. William H. Sheldon, 4/19/1972 — R. E. Naftzger, Jr. —
New Netherlands Coin Co., 11/1973:537, $2500 — Gene Reale — Sotheby’s (New York) #7083,
1/1998:33, $8800 — Richard T. “Rick” Coleman, Jr. Reverse illustrated in Early American
Cents and in Penny Whimsy.
AU-50: Consignment “C,” Hollinbeck Stamp & Coin Co #56, 4/1948:1033 — Hollinbeck Stamp
& Coin Co. — Hollinbeck Coin Co. #123, 6/1952:75 1-Hollinbeck Coin Co. — Hollinbeck Coin
Co. #157, 6/1953:135 — Hollinbeck Coin Co. — James Kenny 4/1957:78, $180 — R. L. Miles,
Jr. — Stack’s 4/1969:105, $525 — Consignment “J” — Stack’s 12/1977:574, $1100 — David
Queller — Stack’s 3/1997: 219 as “MS-65,” $6050 — Tom Caldwell (Northeast Numismatics) —
Superior Stamp & Coin Co. 9/1997:928, unsold — Tom Caldwell (Northeast Numismatics).
EF-45: H. E. Morey, 11/1900 — Dr. Thomas Hall, 9/7/1909 — Virgil M. Brand, 1934 — Horace
Brand — ^New Netherlands Coin Co, privately, 6/10/1952, $75 — Harold Bareford, 9/13/1985 —
Herman Halpern — Stack’s 3/1988:196, $1760.
EF-45: John Work Garrett — Johns Hopkins University — Bowers and Ruddy Galleries
11/1979:102, $600 — First Coinvestors.
EF-45: Steve Ivy Numismatic Auctions #2, 4/1978:16 — Jody Hawkins — Robert L. Hughes
Enterprises 6/1980:24, $1100 — Douglas F. Bird — McLaughlin & Robinson Coins #4160,
9/1986:354, not sold — Douglas F. Bird — Michael Kramer, 10/1987 — Gary Ruttenberg — M & G
258
Auctions, 8/1996:211, $1980 — Dr. Eugene Sherman — Superior Stamp & Coin 9/1997:54,
$2860 — Chris Victor-McCawley (CVM).
EF-45: Carl Wurtzbach, 3/1937 — Judge Thomas L. Gaskill — ^New Netherlands Coin Co.,
privately, 11/1956 — Dorothy 1. Paschal — C. Douglas Smith.
EF-45: DavidBland, Jr., 4/1976, as “Unc.”
EF-45: Thomas L. Elder 7/1916:678 — Frank Hussey — ^New Netherlands Coin Co. #54,
4/1960:1420, $62.50— “DMT”
FUGIO CENT DIES STUDY
Miehael S. MeEaughlin
Greetings!
1 here present the latest incarnation of “The Fugio Files.” {Editor’s Note: The original
version of the “Files” appeared in Penny-Wise in the late 1980s, with updates published in 1992-
1994. Besides presenting updated information, the overwhelming majority of the dies will be
illustrated. The intent is to present six to eight dies per issue, antieipating completing the series
in early 2011.]
For eaeh obverse and reverse, the first seetion provides a basic description of the die itself.
The elassifieation system used is the one devised by Eric Newman in his monograph, “Varieties
of the Fugio Cent,” whieh appeared in the July- August 1952 Coin Collector’s Journal. In this
section, 1 have drawn heavily on Newman’s description of die eharaeteristics. Most important on
the sundial dies is the description and orientation of the einquefoils. In the ring dies,
determination of the die variety is more difficult due to the simplistie design, so good plates for
referenee are a must.
The second section is a listing of die states as determined by die deterioration and die
injuries. The determining faetor of what eonstitutes a separate die state is generally visible
without the aid of a glass. Of the two, die deterioration is the most significant. Subsequent
strikings weaken the die still further. Die breaks are the primary example of die deterioration.
Die injuries, however, are not as serious — or as obviously persistent. For example, a die elash,
where the dies come together without a planchet between them (leaving to some degree an
intaglio design of its mate on the surface of eaeh die) may fade and disappear with subsequent
strikings. Therefore, determining die states from die elashes ean be more subjective.
The third and final seetion is a pairing of dies, using the die states to order the pairings. The
hyphen (-) determines which die in the pairing is being deseribed. The braekets sign ([]) indieates
a die state being brought to a new pairing. The CF-CF designation indicates Clash-Clash. The
strike order should be read top to bottom, left to right.
259
NEWMAN DIE 1: PATTERN DIE.
MERIDIAN SUN WITH FINE RAYS
ABOVE SUNDIAL WITH BASE. EX-
ERGUE BELOW WITH MIND, YOUR
ON TOP LINE AND BUSINESS BE-
LOW. DASHES AFTER MIND AND
YOUR, PERIOD AFTER BUSINESS.
FUGIO LEFT AND 1787 RIGHT OF
SUNDIAL.QUATREFOIL AFTER DATE.
IN EXERGUE: Y IN YOUR IS DISTANT
FROM THE O WHICH TILTS RIGHT.
NUMERIALS AND LETTERS HAND EN-
GRAVED IN DIE.
KNOWN MEDAL TURN ONLY TO N.Z
NEWMAN 1-B RARITY 4
NEWMAN 1-L RARITY 5
NEWMANS 1-Z,1-CC BOTH RARITY 7
DIE STATES
1(1) LOT 2408 NASC A 4/81.
1(2) DIE CLASH: WITH NEWMAN B.
LOT 642 PINE TREE 10/75.
1(3) DIE CLASH: WITH NEWMAN B.
LOT 2407NASCA 4/81.
1(4) DIE CLASH: WITH NEWMAN L.
STRIKE ORDER
1(1)-CC(1) 1(2)-B(2) 1(3)-L(1)
CL-CL
1(1)-Z(1) 1(4)-L(2)
1(3)-B(3) CL-CL
1(1)-B(1) CL-CL
NEWMAN 1(1)
I
IMiVViVlAiN 1(^2;
NEWMAN 1(3)
260
NEWMAN DIE 2: CLUB RAY DIE.
MERIDIAN SUN WITH CONCAVE
END CLUB RAYS OF INDETERMIN-
ATE NUMBER ABOVE SUNDIAL
WITH BASE. BELOW BASE IN EX-
ERGUE IS MIND, YOUR ABOVE
BUSINESS. FUGIO TO THE LEFT
AND 1787 TO THE FIGHT OF THE
SUNDIAL. CINQUEFOILS BEFORE
AND AFTER FUGIO AND THE DATE.
C INSTEAD OF G IN FUGIO.
CINQUEFOILS: M12.5, Ml, HI, H7.
RARITY 6
DIE STATES
2(1) LOT 61 STACK’S 2/75.
2(2) DIE BREAK: FROM RIGHT SIDE
OF RAYS TO THIRD CINQUEFOIL,
TO BASE OF 1 IN DATE.
2(3) DIE BREAK: FROM MIDDLE OF 8
TO BOTTOM OF 7 IN DATE.
2(4) DIE PITTING: AREA IN LEFT RAYS.
LOT 257 BOWERS & RUDDY 12/75.
STRIKE ORDER
NEWMAN 2(2)
2(1)-C(1) 2(3)-C(l) 2(4)-C(l)
BREAK- PITTING-
2(2)-C(l)
BREAK-
261
NEWMAN DIE 3: CLUB RAY DIE.
MERIDIAN SUN WITH 16 CLUB RAYS
WITH CONVEX ENDS ABOVE SUN-
DIAL WITH BASE. BELOW BASE IN
EXERGUE ARE THE WORDS MIND
YOUR ON THE TOP LINE WITH BUS-
INESS BELOW. EUGIO TO THE LEFT
AND 1787 TO THE RIGHT OF THE
SUNDIAL. CINQUEFOILS BEFORE
AND AFTER EUGIO AND THE DATE.
IN EXERGUE: I IN MIND IS HIGH AND
TILTS LEFT.ORNAMENT IN SUNDIALS
BASE DOTS I OF MIND. FIRST S IN
BUSINESS IS HIGH.
CINQUEFOILS: H5.5, 05.5, 06.5, H6.5
RARITY 3
DIE STATES
3(1) LOT 1369 STACK’S 5/83.
3(2) DIE CLASH: WITH NEWMAN D.
LOT 646 PINE TREE 10/75.
3(3) DIE CHIP: BOTTOM LOBE OF 8.
3(4) DIE BREAK: RIM AT 80 DEGREES
BETWEEN FIRST 7 AND 8
LOT 1747 KAGIN’S 9/78.
3(5) DIE CLASH: WITH NEWMAN D.
STRIKE ORDER
3(1)-D(1) 3(4)-D(2) 3(4)-D(4)
BREAK- -DIE WORK
3(2)-D(2)
CL-CL 3(4)-D(3) 3(5)-D(5)
-LAPPED CL-CL
3(3)-D(2)
DIE CHIP-
NEWMAN 3(3)
262
NEWMAN DIE 4: CLUB RAY DIE.
MERIDIAN SUN WITH 15(?) CLUB
RAYS WITH CONVEX ENDS ABOVE
SUNDIAL WITH BASE. BELOW BASE
IN EXERGUE IN TWO LINES IS MIND
YOUR OVER BUSINESS. ORNAMENT
BELOW BUSINESS. FUGIO TO THE
LEFT AND 1787 TO THE RIGHT OF
THE SUNDIAL. CINQUEFOILS BEFORE
AND AFTER FUGIO AND THE DATE.
CLUB RAY TOUCHES THIRD CINQUE-
FOIL.
IN EXERGUE: D IS LOW AND TILTS
RIGHT. Y OF YOUR IS DISTANT.
CINQUEFOILS: HI, 06, 012.5, 06.
RARITY 3
DIE STATES
4(1) LOT 3519 BOWERS &MERENA
11 / 88 .
4(2) DIE CHIP: BOTTOM LOBE OF 8
LOT 183 STACK “S 6/75.
STRIKE ORDER
4(1)-E(1) 4(2)-E(l)
CHIP-
NEWMAN4(1)
NEWMAN 4(2)
263
NEWMAN DIE 5: CLUB RAY DIE,
MERIDIAN SUN WITH FIFTEEN (?)
CONCAVE END CEUB RAYS OVER
A SUNDIAL WITH BASE.BELOW THE
BASE IN EXERGUE IN TWO LINES
IS MIND YOUR OVER BUSINESS.
FUGIO TO LEFT AND 1787 TO RIGHT
OF THE SUNDIAL. CINQUEFOILS BE-
FORE AND AFTER FUGIO AND THE
DATE. PERIOD AND SECOND CIN-
QUEFOIL CLOSE TO O OF FUGIO.
IN EXERGUE: I OF MIND TILTS LEFT.
LAST S IS LOW. M IS LOW.
CINQUEFOILS: H5.5, Ml 1.5, Ml, HI 1.
RARITY 7
DIE STATES
5(1) LOT 414 STACK’S 12/83.
STRIKE ORDER
5(1)-F(1) 5(1)-HH(1)
264
NEWMAN DIE 6: FINE RAY DIE.
MERIDIAN SUN WITH FINE RAYS
ABOVE SUNDIAL WITH BASE. BE-
LOW BASE IN EXERGUE MIND
YOUR ON TOP LINE WITH BUS-
INESS BELOW. ONAMENTS BEFORE
AND AFTER WORDS IN EXERGUE.
FUGIO TO LEFT AND 1787 TO RIGHT
OF SUNDIAL CINQUEFOILS BEFORE
AND AFTER FUGIO AND DATE.
CINQUEFOILS; M5.5, M12.5, M6, HI 1.5
RARITY 4
DIE STATES
6 ( 1 )
6(2) DIE CHIP; TOP LOBE OF 8. LOT
108 CONNECTICUT STATE LIB-
RARY COLLECTION.
6(3) DIE BREAK; RIM AT 170 DE-
GREES THROUGH SECOND S
AND U INTO BASE OF SUN-
DIAL.
6(4) DIE CLASH; WITH NEWMAN W.
LOT 2416NASCA 4/81.
6(5) DIE CLASH; SECOND CLASH
NEWMAN W. LOT 2041 STACK’S
4/88.
6(6) DIE BREAK; RIM AT 350 DE-
GREES INTO LEFT RAYS .
STRIKE ORDER
6(1)-W(1)
6(3)-W(2)
BREAK-
6(5)-W(5)
CL-CL
6(2)-W(l)
CHIP-
6(3)-W(3)
-BREAK
6(6)-W(5)
BREAK-
6(2)-W(2)
-BREAK
6(4)-W(4)
CL-CL
6(6)-W(6)
-FAILURE
NEWMAN 6(2)
NEWMAN 6(3)
NEWMAN 6(4)
265
EAC REGION 3 MEETING, BALTIMORE
June 13, 2009
Greg Fitzgibbon
The meeting was ealled to order by Greg Fitzgibbon, sitting in for Region 3 President Brett
Dudek who had a prior commitment. The meeting opened with each person present introducing
himself or herself and giving a short description of their collecting interest. The following is a
list of those present:
Donald Neiman
Susan Eckberg
Bill Eckberg
Ed Eox
Bill Caldwell
Dallastown, PA
Alexandria, VA
Alexandria, VA
Spencerville, MD
Elizabeth City, NC
Robert Yuell
Red Henry
Bill McMahon
Ken Rubin
Greg Eitzgibbon
West Windsor, NJ
Winchester, VA
Buffalo, NY
Woodbury, NY
Manassas, VA
A number of topics were covered, the first being this year’s convention in Cincinnati. About
half of the people present were able to attend. The general consensus was that it was a well-run
convention and a good time was had by all.
There was quite a bit of discussion about the recent postings on the Region 8 weekly
newsletter about EAC grading. There were many opinions expressed on the difficulties involved
in making adjustments to the sharpness grade, when a coin has one or more problems, and
reasons why two people might not agree. One collector might be able to live with a rim bump or
two as long as the color and surfaces of a coin are nice. Another collector might feel totally
different about rim bumps. Ultimately, the grade must be thought of as a guide or starting point
for describing a coin.
Red Henry passed around a recent find from a Virginia flea market. It was a new example of
an 1801 NC3. Even though the coin has a hole it is still quite a find since Red estimates that
there are about 20 examples of this variety. This proves that there are some rarities still out there.
Greg Eitzgibbon passed around a recent acquisition. It was an example of a tab strike on an
1809 half cent.
Bob Yuell spoke a bit about the half cent whist match that he set up in conjunction with the
Cincinnati convention. There were a total of five contestants and many outstanding coins were
viewed by the judges. The post-convention issue of R- IE had a nice write up by Mike Packard
along with some photos by Greg Heim. Bob mentioned that it was interesting to review the
scoring sheets of the judges, which showed that there was a fair amount of variation in the
judges’ grading.
The last few minutes of the meeting were spent discussing some of the upcoming sales, most
notably Dan Holmes’ Sheldon varieties in September. People who attended the EAC convention
were able to spend some time viewing the lots. The preview catalog that is available for viewing
on the Goldberg web site will give you a hint of what to expect.
After about one hour the meeting was closed.
266
EAC SALE SOLICITATION
At the request of EAC President, Denis Loring, the EAC Sale Committee repeats the
solicitation he made in the July issue of P-W. The committee, all volunteers, consists of;
Robert Calderon; ric463@verizon.net
Bill Eckberg; halfcent@mac.com
Glenn Marx; Gmari@aol.com
Jim Neiswinter; j neiswinter@hotmail.com
Proposals to run the sale should cover all relevant parameters. These include;
Individuals/firms involved
How will consignments be solicited and collected?
Insurance and storage of lots
Who will write the catalog? Photographs?
How and by whom will the catalog be printed and distributed?
How and by whom will the sale be conducted?
How and by whom will the lots be distributed to the winning bidders?
Einancial arrangements; seller's commission, buyer's fee, amount retained, amount remitted to
EAC
Eor how many years is this proposal?
Eeel free to use the recent M&G EAC sales as a template. Proposals are due by December
31, 2009. They should be sent to the committee members and to Denis rdwloring@aol.com) . The
committee is charged with reviewing all proposals and making a recommendation to the Board
of Governors, which will be voted on at the 2010 meeting in Annapolis.
EAC BOARD RESOLUTION
“The solicitation of bids for the 2011 EAC sale published in the July, 2009 Penny-Wise in no
way reflects any dissatisfaction with Chris Victor-McCawley and Bob Grellman and their
handling of the Sale in 2009 and prior years. The Board thanks them for their service to date,
looks forward to the 2010 sale, and encourages them to submit a proposal for the 2011 and future
sales.”
REGION 5 CHAIR ANNOUNCEMENT
Denis Eoring
Because of Don Valenziano’s untimely death, it was necessary to appoint a new Chair for
Region 5. I am happy to report that Scott Barrett has agreed to take the position, and this has
been approved by the Board. His contact information is on the inside front cover.
267
2009 EAC SALE REPORT
Chris McCawley & Bob Grellman to Treasurer Chuck Heck
Hammer total:
$261,358.00
Commissions collected:
10% Buyer’s fee
$ 26,135.80
Seller’s fee
5.150.40
Total Commissions
$ 31,286.20
Donated lots
403.75
Total Sale Income
$ 31,689.95
Expenses:
Catalogs
$ 13,679.00
Shipping
1,058.80
Sale insurance
575.00
Hardbound catalogs
600.00
Photos
106.24
Supplies
170.83
PRL duplication
15.00
Total Sale Expenses
$ 16.204.87
Net Sale Proceeds
$ 15,485.08
A check was received from M&G for $15,485.08 in August, 2009 along with the above
report. The check was deposited into the EAC savings account the same month.
We are deeply grateful to Chris McCawley and Bob Grellman for their outstanding efforts in
making our annual sale such a successful event.
We are especially grateful for their incredible generosity.
2009 EAC SEMINARS ON DVD
Chuck Heck
David Lisot, our EAC videographer and all-around GREAT GUY has graciously provided all
EAC members with an opportunity to purchase a DVD covering seminars and events at the
2009 EAC Et. Mitchell, KY convention. If you order through EAC each DVD will cost only
$19.95 as opposed to the “outside” price of $24.95. Shipping and handling charges are $5.00 for
1 to 5 items; $10.00 for 6 or more. The entire set of 12 DVD’s is available for $180 and includes
shipping and handling.
268
I would like to remind everyone that David does not eharge EAC a eent (get it?) for taking
any of the videos. Each year he brings his equipment and spends 90% of his waking hours taking
videos at no charge to EAC. He deserves our sincere thanks for providing such a wonderful
service.
If interested in these or any prior years, please contact Chuck Heck (EAC Treasurer) at PO
Box 3498, Eantana EE 33465 or call 561-628-5345 or e-mail check48@comcast.net . Please
order by title and code number as listed at the end of each description. You can also browse the
many DVD’s that David has for sale by looking at his web site at www.coinvideo.com .
Here is a list of the 2009 DVD’s by title;
Assembling a 1795 Year Set - William Jones
Collector and EAC member Bill Jones discusses what is involved in collecting the coins of 1795.
He explains the background of the economy of the times and that many of the coins from that
year were actually struck in other years.
EAC09-001 Run time 30:12
Colonial American Conder Tokens - Mark Borckardt
Most people that know about these special copper issues of the late 1700’s thi nk they are all of
British issue. However many were made and destined for the American shores. Learn about this
esoteric and interesting area of collecting from Mark Borckardt, one of the country’s great
numismatists.
EAC09-002 Run time 37:55
Color History of Large Cents - John Kraljevich
Just exactly what color is brown? Words used to describe copper coins can be varied and very
unusual. John Kraljevich is a well-known researcher, lecturer and cataloguer of early American
coins. Hear and see examples of the different shades of copper coins and how people have
attempted to describe them.
EAC09-003 Run time 44:39
Common Sense Guide to Selling Coins on eBay - Gregory Heim
Selling coins on eBay is not as easy as you might think. Many pitfalls and difficulties await
someone who hopes to market their coins for the best price. Learn what you need to know from
EAC’er Greg Heim.
EAC09-004 Run time 49:34
Copper Quotes by Robinson - Jack Robinson
It is that time again to hear from one of EAC’s most interesting personalities. The man who
created CQR explains the theory behind what he has created and the issues being addressed in
this current market.
EAC09-005 Run time 58:44
Cuds on Capped Bust Dimes - Brad Karoleff
If you collect this series then this presentation is for you. See examples and learn how to tell the
most important varieties of Bust Dimes from one of the hobby’s most knowledgeable experts.
Brad Karoleff.
EAC09-006 Run time 56:57
269
Cuds on Capped Bust Half Dimes - Glenn Peterson
If you eolleet Bust Half Dimes then this presentation is for you. See examples and learn how to
tell the most important varieties from one of the hobby’s most knowledgeable experts, Glenn
Peterson.
EAC09-007 Run time 41 :07
Dan Holmes Reminiscences on His Large Cent Collection - Dan Holmes
Dan Holmes is the eurrent president of Early Ameriean Coppers. He has one of the finest and the
most eomplete collection of early US large cents including varieties and non-collectibles. Dan
has decided to sell his collection later this year due to a medical situation. In this sincere and
important moment he reminisces about the people and the coins he encountered as he built this
fabulous collection. (This was part of the Friday night Educational Forum.)
EAC09-008 Run time 51:14
EAC Highlights and Happenings 2009 - Drawbridge Convention Center, Ft, Mitchell, KY
The annual Thursday evening gathering of the most interesting coin collectors takes place again
in Fort Mitchell, Kentucky. This annual event brings collectors from all over the country to buy,
sell, trade and discuss America’s copper coinage struck from the late 1700’s to the last issue of
large cent in 1857. See what a real EAC “Happening” is like and meet the people who comprise
this great area of numismatics.
EAC09-009
Early Copper Coin Threat from China - Educational Forum Keynote Speaker: Beth
Deisher
There is a serious problem of counterfeit coins that are being created in China. Find out how
these coins are entering the market in America, which issues are being produced and how you
can protect yourself from these deceptive issues. Presented by the editor of Coin World, Beth
Deisher.
EAC09-010 Run time 55:02
Silver Coins of 1809: During Lincoln’s Bicentennial -Glenn Peterson
Abraham Lincoln was bom in 1809 and the silver coinage of that year has some interesting
varieties. Learn about these interesting coins from Dr. Glenn Peterson, long time collector of the
early silver coins of America.
EAC09-011 Run time 37:03
Your Coin Collection and Your Tax Return - Chuck Heck
You have spent years assembling your coin collection? Do you know how to get the best tax
advantage when you sell it? Learn the ways the tax laws work so you can take advantage of all
the legal options available to you. Long time EAC member and CPA Chuck Heck shows that a
little planning will go a long way for you and your heirs.
EAC09-012 Run time 52:55
270
ANNUAL GARVIN COMMITTEE REPORT
Chuck Heck and John Kraljevich
During 2008 interest earned on the Garvin donation was approximately $1,400, while interest
earned in 2009 through June is approximately $270. The total Garvin balance as of June 2009 is
approximately $54,300.
In 2008, EAC awarded only one $1,000 scholarship and purchased a digital projector for
$1010. The digital projector more than paid for itself after the Friday seminars at the 2009
convention.
In 2009, one $1,000 seholarship was to be awarded, but the applicant had a scheduling
conflict and withdrew the request.
Please note that the filing deadline for a 2010 Garvin Scholarship and/or a 2010 Garvin
Research Grant is November 30, 2009. Each year EAC can award up to two $1,000 Garvin
Scholarships and up to $500 per Garvin Grant.
If you are interested, please complete the appropriate application(s) and submit them before
the deadline. Both applications are included in this issue of PW. Contact information is at the
bottom of each application.
1795 S-65 (images courtesy of Ira & Larry Goldberg Auctioneers)
271
Garvin Scholarship Application - 2010
Name
Address
Telephone
EAC# Date Joined EAC
1 . What class, seminar, conference, etc. will you be attending? Where and when will it be
held? Please attach a flyer, application, or any documentation regarding the class,
seminar, conference, etc.
2. Please indicate and document how you have shared your numismatic knowledge with
others. Possible instances can include;
a. Giving a presentation to a non-numismatic entity, ex. A school, community
service organization, home for the aged. Boy or Girl Scouts, etc.
b. Presenting a program or seminar at a coin club or coin show.
c. Writing articles for local, regional, or national numismatic publications.
d. Service in leadership positions for local, regional, or national numismatic clubs or
organizations.
e. Volunteer work for local, regional, or national numismatic clubs or organizations
in an effort to insure a successful specific program or show.
3. By signing this application, you agree that should you receive an EAC
Scholarship you will prepare and submit an original article to Penny-Wise concerning
the subject matter discussed at the class or seminar. Such article will be due no later than
four (4) months from the end of such class or seminar.
4. This application must be postmarked no later than November 30, 2009 to be considered
for the calendar year 2010.
Signature; Date;
Mail this application to either;
John Kraljevich, PO Box 237188, New York, NY 10023-7188 or;
Chuck Heck, PO Box 3498, Eantana, PE 33465-3498.
272
Garvin Research Grant Application - 2010
Name
Address
Telephone
EAC# Date Joined EAC
1 . Please submit doeumentation showing the nature of the researeh being eondueted and its
direct relation to early American copper.
2. Please submit original documents (to be returned) showing clearly the nature and amount
of such expenditures that relate directly to the research being conducted.
3. By signing this application, you agree that should you receive an EAC grant you will
prepare and submit an original article to Penny-Wise that summarizes yet details the
research project and its conclusions. Such article will be due no later than four (4)
months from the receipt of the grant.
4. This application must be postmarked no later than November 30, 2009 to be considered
for the calendar year 2010.
Signature: Date:
Mail this application to either:
John Kraljevich, PO Box 237188, New York, NY 10023-7188 or:
Chuck Heck, PO Box 3498, Eantana, PE 33465-3498.
273
CANDIDATES FOR MEMBERSHIP
The following persons have applied for membership in EAC sinee the last issue of Penny-Wise.
Provided that no adverse comments on any particular individual are received by the Membership
Committee before the November issue of P-W, all will be declared elected to full membership at
that point. Chairman of the Membership Committee is Rod Burress, 9743 Leacrest, Cincinnati,
OH 45215.
Name
City, State
Membership
W. Jan Janknowski
Murrayville, GA
5800
Richard Bolanowski
Denville, NJ
5801
Earry Ackerman
Hamilton, VA
5802
Kevin Binsfield
Montpelier, VA
5803
Merlin Hove
Ames, lA
5804
Dan Eesicko
Glen Carbon, IE
5805
David Eisot
Richardson, TX
5806
Alfred Eutzi
Scottsdale, AZ
5807
Richard Meaney
Goffstown, NH
5808
Robert Powell
Salisbury, NC
5809
David Quante
Myrtle Beach, SC
5810
Michael Scanlon
Uncasville, CT
5811
Aaron Thompson
Berryville, AR
5812
Tom Tope
Gallipolis, OH
5813
Kevin Vinton
Seymour, CT
5814
OBITUARY
Don Valenziano, EAC member #783, died Sunday August 2 of infectious complications
following hip surgery. He had been doing quite well post-operatively; Greg Heim had spoken
with him on Eriday July 31, and described him as being very upbeat about his rehabilitation. (Not
that that attitude would have surprised any of us who knew Don!) He was a thirty-year member
of EAC, and only 57 at the time of his passing. What follows are remembrances by three of his
friends in EAC.
REMEMBERING A FRIEND
Rod Widok
I first met Don Valenziano at a little local show at the Eeaning Tower YMCA back in 1975
(the same time frame & show where I also met Myles Gerson). Since both Don and I were
interested in early copper, we struck up a friendship.
274
Over the next few years, our friendship grew, as we found that we were attending the same
shows (loeally and nationally). We both joined EAC and continued our quest for early copper -
Don with half cents & me with large cents.
In 1983, I began selling off what large cents I had collected and at the same time, Don
decided to sell off his half cents. As it worked out, my wife Joan and I bought the core of Don’s
half cents - which became the core of our present half cent collection.
Then, as fate would have it, in 1986 both Don and I were downsized out of our day jobs. One
day we talked about it and decided that since we both now had free time and were going to the
same coin shows, why not start setting up? So, we began splitting a table, and the rest is history.
Even with Don and Shirley’s moves to New York and then to Texas, plus my going back to
work for Motorola, we still managed to split tables and do shows on the coin circuit. Eong Beach
will never be the same without Don to go to the casino with in the few days between the
Goldberg sales and the start of the Long Beach show.
All that is left to say is that my next glass of wine is raised to you, Don, my friend.
MY FRIEND DON
Jim Neiswinter
I joined EAC in 1983. I knew Don Valenziano like I knew all the other copper dealers; that
is, someone to talk to for a few minutes at a show until you moved on to the next table. It wasn’t
until 1989 when I went to Los Angeles for the Jack Robinson sale that I first talked to Don for an
extended period. He knew I was from New York and I think it was here that he told me that he
was moving to Long Island because his wife Shirley’s job was being moved there. So Don,
Shirley, and their cats moved to Bellmore, about eight miles from where I live.
It was the Kuntz sale in 1991 that I first asked Don to represent me at an auction. He was able
to get my first Smith Counterfeit. When I asked him what I owed him, he told me just to pay him
what I thought was fair. That’s how our relationship was right up to the Naftzger sale of middle
dates this past Eebruary when he got the finest known 1817 N15 for me. Don knew that if I really
wanted a coin he would exceed the limit I’d given him. When he got my Smith Counterfeit
Chain Cent in 2006 he went over my limit by using a cut bid because he thought the only person
he was bidding against was weakening. He was right and I was very glad he was. I went through
my collection and figured out that 30 coins had come through Don - five he sold me directly
(including my S3 & S4), and 25 coins he got for me at auctions.
One advantage of Don living so close to me was being able to go to his house the day after he
got home and pick up the coins. I had been looking for an S 10 for a long time. Einally one came
up in a Heritage Long Beach auction in 1997. He called me after the auction to tell me that he
had gotten the coin at a good price. I said great. I’ll come and pick it up on Monday. Then he told
me he wouldn’t be home until the following Monday because he was going on to Hawaii for a
small coin show and to visit a friend. So my SIO got a trip to Hawaii, and I had to wait an extra
week.
275
Don liked to gamble. He enjoyed going to Las Vegas and the raeetraek. Living on Long
Island we are very elose to Belmont Park. Sometimes we would go together and sometimes I
would go by myself and run into Don and Shirley. They were usually down by the rail near the
finish line. One August, when I was between jobs, I asked Don if he wanted to go to the track.
He said sure. However, Belmont is closed in August and the horses were in Saratoga, which is a
seven hour round trip from Long Island. Don still wanted to go. He drove while I studied the
racing form. I liked it when Don drove. He went fast and never got stopped because of his radar
detector. Unfortunately, neither of us cashed a ticket, but we still had a good time.
Another time, I saw a coin show advertised in Coin World in Binghamton, N.Y. It was
supposed to be a three day show with 100 tables. This time I drove. We went up on the first day,
which was Friday. After driving four hours we were both disappointed when we walked in and
found less than 50 tables, the majority of which were baseball card and comic book dealers. So
the trip wasn’t a total waste of time we stopped in Wilkes Barre, Pa. on the way back to see a
minor league baseball game.
After living in a rented house for eight years Don and Shirley bought a house farther out on
the island in Deer Park. It took just two years before Shirley’s job moved again, this time to
Houston. So they followed the job and moved to Texas. I once asked Don how he liked it in
Houston. He said, except for the humidity, it was great because people were friendlier than they
were in New York. That didn’t speak very well for New Yorkers. They were there a few years
until Shirley got a job in Chicago (the same city they had started from in 1990).
The last time I talked to Don was in early June. I called him at 9 A.M. New York time, which
was 8 A.M. in Chicago. He was always up early. When he answered the phone, it was obvious
that he had been asleep. I asked him if he was sleeping late. He said no, he was still sleeping
because it was 6 in the morning. Then I realized he was in Long Beach for the coin show. He
wasn’t mad. I made the conversation short and when we finished he said the same thing he
always did; “Goodbye my friend.” I’ll miss him. As we all will.
DON VALENZIANO
Chris Victor-McCawley
What makes a good man? Don Valenziano was one of those special kind of men that
attracted many friends and admirers. I can think of a couple dozen people that, upon hearing of
his passing, would have thought, “Oh, God! I just lost one of my best friends.”
I left ANA for a day and my wife, Alice, met me in Illinois to go to the service. It was a nice
service. I was especially moved by the heartfelt eulogies from Don’s brother and sister. When I
returned to L.A., one of Don’s friends remarked to me, “ I heard the service was kind of
somber.”
“Somber?” I replied, “Why do you say that?”
“Well, I heard Shirley cried through the whole service ”
“Yeah, she cried,” I said, “Look, if you die and your wife’s not crying at the funeral, that’s a
somber funeral!”
276
Anyway, everyone eried.
Don’s younger brother, Jim, gave one of the eulogies for Don. Jim is a Marine who was
serving in Iraq. He had lived with Don and Shirley when he was younger. He reeeived speeial
permission to be baek for the serviee. “My brother, Don, was the bravest man I ever met,” he
began. “I learned about eourage from my big brother. He never let any ehallenge stop him or
stand in his way. But the most important thing I learned from my big brother is how to love my
wife and eherish my marriage.”
Well, at that point, every woman in the ehureh is erying - not just Shirley. Then he went on.
“But no one was more stubborn than Don. He loved an argument and would never baek
down, no matter how wrong he was! He always teased me about being bald,” Jim eontinued,
“but those eurly perms of his Oh, and he loved to flirt with pretty girls!”
By now everyone was either laughing or erying or parts of both.
It was true Don loved to flirt with the eute young things they would hire to show us lots at
auetions. And the lot viewing girls loved him baek. I must mention that in addition to Don’s not
naturally eurly hair, he was a handsome man of the old sehool with a peneil mustaehe
reminiseent of Clark Gable or Joseph Cotton, whom Don somewhat resembled, both in looks and
manner. In addition Don had huge hands, out of proportion to his body; he had hands that
belonged on a seven-foot tall NBA basketball player. The lot girls did sometimes notiee his
hands and you eould almost see them think, “I bet this guy would have no trouble opening a jar
of piekles!”
Don never minded the attention.
Don’s polities were unabashedly liberal and he loved to argue polities. Miraeulously, he was
able to do so without offending anyone. He eould annoy his elosest friends, people from very
different baekgrounds and very different politieal and soeial outlooks, but they remained friends.
Not that he never made enemies. But it is surely true you ean tell a lot about a man by looking at
his aeeumulation of friends and enemies. In general, Don’s friends were the most expansive,
smart, fair-minded and generous of persons. His business elients universally beeame friends as
well.
Don loved to travel. While you or I were sitting at home watehing ESPN, Don travelled all
over the world. He visited every eontinent save Antaretiea and left a trail of new friends and
aequaintanees wherever he went. Don made multiple trips to Australia for obseure auetions just
beeause he liked Aussies and of eourse, they liked him back.
Don and I had a private little joke I guess I will share with you. My father served in the
Pacific in World War II and he had experienced firsthand the Australians’ bravery and sacrifice
in the war. He told me, “If you ever get a chance to buy an Aussie a drink, buy him one from
me. If not for them, we might all be speaking Japanese.”
So when Don told me he was going over there, I slipped him a bill and said to go into a
tavern and buy a round of drinks for some Aussies from my dad. Don said he would. True to his
word, Don went into an Aussie bar, told the story, and bought a round for the house. Now he had
thirty Aussies lined up to buy him a drink. To hear Don tell it, he was stuck there for hours
drinking with his new friends and hearing their stories about Americans. In a way, wherever Don
went he constituted a one man diplomatic corps.
277
When Don went to visit his brother who was stationed in Germany at the time, he brought
baek a ehunk of the Berlin Wall for me to give to my father. It was one of my Dad’s proudest
possessions and he had it on the wall of his den along with all his flying memorabilia. Dad
passed it baek to me when he died a few years ago. It’s hanging on my wall as I write this. It was
the kind of gesture that eould make you a life long friend.
Don had some favorite plaees to go. Hawaii, where he just loved the ealm beauty of the
plaee, and Vegas, where I guess he just loved the aetion, the eaeophony, and the jazz. He went
there for the Super Bowl several times. (Don loved pro football). And a few times we made trips
to Vegas on down days between auetions and the Long Beaeh Coin Show when it was eheaper to
make that trip than stay in a Beverly Hills hotel for three days.
Don and I spent a fair amount of time attending the auetions prior to Long Beaeh. I would
often ride with him. He liked to drive fast and always seemed to get a great ear from the Emerald
Isle using some speeial knowledge gained in the years he worked in the ear rental business.
Don did not eare to be labeled disabled and refused to park in handieapped spaees. The one
exeeption he made was in Beverly Hills, California, a town notoriously stingy with their publie
parking and anxious to give out tiekets to non-residents. When we went to Beverly Hills, Don
delighted in parking wherever he darn well pleased and whipping out his blue parking plaeard to
hang on the mirror. He said if he got a tieket, he just mailed in the tieket along with a Xerox of
the parking permit and he never had to pay the tieket. Don loved beating the system.
Anyway, after the auetions we would go zooming through the desert towards Vegas in
whatever big, fast ear Don had rented or he would have found us some super eheap flight and
managed to get our room eomped. One of our mutual friends, Jeff G., was a B.S.D. at one of the
easinos and Don would get perks and eomps via Jeff sometimes.
It was a good thing too. Cause Don loved to gamble, but he was no gambler, if you know
what I mean. One of my favorite times gambling with Don was on a riverboat during a
partieularly horrible mid-year ANA in New Orleans. This riverboat aetually left the doek and we
were out on the Mississippi for several hours. Don and I found a eheap (in those days $2)
blaekjaek table and we managed to keep playing for several hours without losing our stake. As I
said, Don was not a great gambler. He just liked the jazz. I’m not any better and inevitably we
would lose money. On this night, Don’s unspoken bet with the easino was: T bet I ean get this
eoektail waitress to bring me free seoteh faster than your blaekjaok dealer ean take my money.’
A good bet sinee Don had an ability to eharm and was a generous tipper. By that measure we
probably eame out at least a draw or a little ahead.
Now those of you who know Don know he had a problem with his legs and baek that
affeeted his mobility. Whereas other eoin dealers who sprained their ankle or stubbed their toe
might use one of those little seooters to buzz around the bourse floor, Don, in his stubbornness,
positively sneered at the idea of using a eruteh or a eane to assist him. As a result, Don’s gait
eould best be deseribed...well, he listed a little bit. So that night when the waitress asked if we
wanted another drink and Don said, “No, we’d better go,” he got up from the blaekjaek table.
But the eombination of the drink and the motion of the boat had him listing espeeially
preeariously, so with me on one side and the tiny, barely dressed eoektail waitress on the other,
we walked Don down to the gangplank. Soon we were all laughing hysterieally as we eareened
down the aisle, Don smiling beatifieally. He knew he had gotten the best of the easino that night.
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Again, Don was a generous person, and a soft toueh for any eause or any thirsty bum, and the
first one to reaeh for a eheek. Not everyone is this way. One night Don and I and six other people
are at one of our favorite restaurants in Long Beaeh. One of our tablemates (eall him John) was
notoriously cheap, lovable, but always a little short on his end of the check. He and Don had had
a fortuitous, for both, transaction that day. When the larger-than-usual bill came, Don reached for
it immediately. “Put away your money, boys,” he said, “John and I are paying tonight.” The
stunned look on John’s face and the hint of a smile on Don’s led to uproarious laughter as John
and Don split the check.
Don inspired great loyalty in people. At the same time he could be recalcitrant and stubborn,
even immoveable. You could waltz Don to another position, but if you tried to bully him or
intimidate him, he would dig his heels in and it was game over.
Don could ruffie feathers too. At one auction, Don missed a bid or the auctioneer missed his
bid, who knows? Anyway, after hammering down the lot to another buyer, the auctioneer re-
opened the lot. Don bid the buyer up another couple thousand dollars before he had executed his
bid. The buyer was incensed and accused Don of just bidding him up. “Don, “I said. Just show
him your bid book and apologize. You were just doing your job.”
“Phooey,” Don said-or something to that effect. The other dealer’s feathers stayed ruffled
for a year. “He’s a tough nut,” they finally agreed about each other, and the feud was over. Don
didn’t carry a grudge, but you might see your hair grow long and your toenails fall out waiting
for an apology. Unless he really felt he was wrong. Then he was on you before you even knew
he had done or said something amiss. Virtue or flaw, it was just Don.
On the drive from the airport to the service, I spoke with my angelic wife, Alice, about Don
and about the excruciatingly painful and harsh time he spent as a little boy in the Shriner’s
Hospital he was sent to again and again. “What a lonely, hard time that must have been for that
little boy,” she said to me. ‘“What kind of life am I going to have?’ he must have thought. What
kind of life is possible for someone like me?”
As we sat through the eulogies by his younger brother and sister, I thought to myself, “From
that start in life, look what this guy cobbled together.”
As it turns out... a pretty terrific life. A life with a great marriage to a woman he truly loved
and who loved him back. A life full of travel and adventure. A life full of friends with a job he
loved to do. A family that respected him, no, a family that revered him.
There is a poem by Rudyard Kipling, the last few lines of which read: “If you can fill the
unforgiving minute with sixty seconds worth of distance run, then yours is the world and all
that’s in it. And what is more you’ll be a man, my son.”
Don was a good man. If his life was too short, it was still sweet.
Don squeezed a lot of juice from life. Here’s to you, my tenacious friend.
You played a pretty cool hand.
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SOME RANDOM LATE SUMMERTIME MUSINGS ON COPPER
AND OTHER DELIGHTS FROM EAST KUMQUAT
James Higby
1. How often does a radio or television advertisement aeeost your ear with “There’s never been a
better time to buy (fill in the blank with whatever produet or eommodity is in vogue).”
Sometimes I read of the fabulous eolleetions of copper built by the big name collectors of the
past and feel the temptation to lament that I was not there to snag some of those XF 1793s for
under a grand, or latch onto a high-grade “Bar” copper for a hundred bucks. Those lamentations
quickly disappear when I take my want list to a dealer, a show, or an auction, and suddenly find
myself gazing upon a dozen or more coins that will fit nicely into my collection at a price level
that / can handle today. Is it possible that when my meager collection of low-down coppers
eventually reaches the market, someone will say that he wishes he had been around in those
“good old days” when JH put it together?
2. “Extra! Extra! The coin market is about to go bust! Read all about it here!” the breathless
headline screams. Yet, having attended a couple of regional shows this spring and summer, I am
convinced that the coin market is alive and well, especially in the field of early copper. Did
anyone notice the crowding in the aisles at EAC 2009 in April? Has anyone noticed that the
prices of early copper have not come tumbling down? Has anyone been there to witness the
bidding duels between rivals at auctions of large cents lately? Early copper has often been called
the bellwether of American numismatics, the final refuge for those who have tried everything
else, the place where collectors congregate for the most intense, impassioned, and intellectual
coin experience. I have not seen any of that pluck diminish in the slightest, have you?
3. I love coins. I have loved coins for over fifty years. U.S. coins, world coins, tokens - I love
‘cm all. This is a totally irrational emotion on the part of one who prides himself on being a
rationalist. In 1955 when I could fill hole after hole in my Whitman folders from circulation I
had no use for dealers other than as a source for those folders. But as my want list thus got
shorter and shorter, the new acquisitions became less and less frequent until they ceased
altogether. Oh sure, I still retained my boyhood dream of pulling an SVDB from the $50 bags
that I would buy and search on a weekly basis, but I started getting interested in certain folks
called dealers who had some of the stuff I needed, including such exotic items as SVDBs.
I quickly learned that some of those folks were not particularly nice folks. Downright unfriendly,
some of them were. But if they had the coin I wanted, their personality played second to the coin
itself After all, it wasn’t the coin’s fault that it was in the showcase of a person I didn’t really
care for. There were other dealers who were like doting uncles to me. Problem was, they didn’t
come up with the stuff I needed. But in spite of that, I would talk with them, tell them what I was
looking for, and hope that they might remember me if they got something really neat into their
stock. Those notions still guide me today. In this, my third incarnation as a collector, my guiding
principle has always been to get the best coin for the money (whose isn’t?). That is, I look for a
problem-free coin, whether the grade level is AG-3 (got quite a few of those) or MS-67 (got a
few of those), and for sale at money that matches the price guide level for the grade in question.
As far as dealers are concerned, not much has changed. I do business with a wide variety of
people, including some who have, shall we say, serious personality defects. But when they come
up with amazing things that I like I tend to seek them out for further acquisitions. Once the coins
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are in my collection I can then emphasize the positive qualities of the coin and de-emphasize the
attending dealer. It takes a while to get to the point at which one can identify the dealers who will
provide what one is looking for. But once identified, they can be an asset to the building of one’s
collection.
4. Although EAC 2009 is now far back in the rearview mirror, I still have a feeling of euphoria
from having attended. More than any other show (or any other EAC I have attended, for that
matter) I felt that I was in the company of peers. This is one great organization! Branch out into
C4, or the John Reich Collectors Club, or the Civil War Token Society, or all of the above as I
have, and one would have enough material to study to last the rest of his life. It’s just not that
way with Morgan dollars or bison nickels. There’s nothing wrong with either of those series, by
the way, but there is definitely a contrast, at least in the quirky way I look at things.
5. Have you ever had a desire to crack dealers’ codes that they write on 2x2 holders to
camouflage the price they paid for the item? Normally they use a ten-letter word or phrase that
has no repeating letters in a simple substitution code. Here is a small sampling of a much longer
list of such words and phrases: bifurcated (has to do with the deformation of peripheral lettering
on early U.S. coins), blacksmith, copyrights, countywide, doublemint, earthbound, fruitcakes
(what some dealers are when you ask them about their coins), gobsmacked (just learned this
one), graciously, housepaint (knew a dealer who actually used this), jameshigby (I’m just
sayin’), labyrinths, makinglove (knew somebody who used this one, too), obfuscated,
playwright, powdermilk, roughnecks (what all dealers become while they are tearing down their
display at the end of a show at 3 p.m. on a Sunday), stockpiled, transfixed (describes me in the
presence of Tom Reynolds’ high-end display case), unfiavored, and vouchsafed (I never did
learn what that word means). The more clever guys use weird symbols that usually represent
letters that spell something out, and with a little sleuthing, one can break just about any dealer
code. Now just wait, somebody will hire a Navajo code talker to foil my plan, and then where
will I be?
6. 1 have completed many date/mint series of coins over the years. Completeness is a good thing!
But as I get into the more esoteric series, absolute completeness is less and less feasible. Coppers
and colonials are in this category. The alternate strategy is to determine what a “representative”
collection of something would look like, then make a list of affordable examples of its
components to guide one’s purchases. The beauty of a want list of this sort is that it can be
changed at will and the collection can still be considered “representative” as well as “complete.”
7. Recently I learned that Walter Breen ’s Encyclopedia of U.S. and Colonial Coins was voted the
#1 item in the Numismatic Bibliomania Society’s recent poll to determine the “100 Greatest
U.S. Numismatic Items.” Now I feel even better about having just had my copy professionally
rebound (into the original cover yet!). Yes, some will point out that the work is rife with error,
but in my book it is still a very worthwhile addition to a numismatic library. Whatever a potential
owner of a copy might be willing to pay for one on the secondary market, he should be prepared
to spend an additional $50 or so for the repair, which will likely become necessary if the book is
used much at all.
8. It’s still fun to talk, inspect, and buy copper. It doesn’t matter if your want list features
colonials, half cents, large cents, hard times tokens. Civil War tokens, Indian cents, or Lincolns,
copper is copper. Not only that, but there are some fantastic coppers from other lands as well,
and I encourage EAC folks to investigate what’s out there from those other places. I’m thinking
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of those Russian five kopek “doorstop” eoins, and those British thruppenee tokens from the
1810’s, and those massive eopper eoins from Portugal and her eolonies, made in the 1700’s and
1800’s, and those massive Soho Mint produets of 1797. When a eolleetor of large eents begins to
feel a bit jaded, he ean have an entirely new and satisfying adventure in eopper with a relatively
small investment of time, study, and cash.
9. I often wonder how many of my fellow copper collectors own large cents that have been
altered - you know, the “1815s” that have been crafted by chasing the metal around on an 1813
or an 1845, or the ones that have had the reverse wording “altered.” I often wonder if PCGS
would put one of them in a “genuine” slab, and what designation they would list if they did.
10. Lying here in this hammock on a warm, late summer afternoon, thinking about copper, is
about as good as it’s ever going to get. I would continue this reverie, but right now my eyelids
are getting heavy, and. . .
THE SEEMINGLY “CENTS” LESS COLLECTOR
Greg Heim
“CLEAR CONSCIENCE”
The articles of Howard Spencer Pitkow have drawn the emotions out of many EACers over
the past few months. One article in particular is his piece on “educating” a dealer about an 1800
Earge Cent. I would like to make a few comments on that article.
You will notice in my articles that I reference my days as a professional poker player. Over
the 10+ years that this was my profession, I was respected highly for my demeanor and ethics.
As a full-time dealer and numismatist, I feel that I bring those same ethics to the table.
Part of being a buyer and seller of coins is all about pluses and minuses. Sometimes you will
make a good choice, and sometimes you will make a bad choice. When it is all said and done,
you should come out ahead or at least even, if you have educated yourself properly.
The other variable in this utilitarian argument is the ethical responsibility that you have when
it comes to revealing a cherrypick to a seller. To most people, it is extremely clear and concise
with regards to what is considered acceptable, and what is considered downright “sleazy.”
So, without any further ado, let us review some scenarios:
SCENARIO #1: You are at a dealer’s shop and you are looking at an 1805 Small 5, Stems Half
Cent. It turns out that it is the rarer C-2 variety, but the dealer does not know (and seems not to
care). You ask for a price, he quotes you more common C-3 money. You buy the coin, say
“thank you,” and go on your way.
ANAEYSIS: You did NOTHING wrong. The transaction was held to a high standard, and you
can go to sleep at night. It is not your place to educate the world when the world does not want to
be educated. This is like trying to educate players at a poker table or trying to shove your
religious beliefs down someone’s throat. It is YOUR knowledge, and YOUR time that led to this
windfall. The word “selfish” is not even a consideration.
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SCENARIO #2: I am at a coin show, and a dealer knows that I am an expert on Half Cents. He
shows me an 1804 “Spiked Chin” whieh turns out to be a rare die state of a C-6 (he knows the
variety). Before I ask a priee, the dealer asks me if it’s a better eoin and/or to eonfirm his
attribution.
ANALYSIS: Whether you know him or not, you have an ethieal responsibility to tell the truth. If
the eoin is something that is rarer, work something out with him. One time I did this, and the
dealer wanted to keep the eoin. He took out a $100 bill and said “thank you for your time.”
Without going into the details of the transaetion, I felt that was very fair.
SCENARIO #3: You stumble aeross a pleasing 1809 C-2 Half Cent in VE-30. The dealer is
selling the eoin at XE CDN Grey Sheet Quarterly “bid.” You go up to him, pull out CQR and tell
him that he is giving the eoin away.
ANALYSIS: WHAT ARE YOU DOING??? This is a eorollary to the first seenario.
Conditionally rare items that require speeialized knowledge should only be shared if the seller
asks you.
CONCLUSION: Know right from wrong, and do not follow the proverbial Golden Rule. Treat
others the RIGHT way, regardless how they would treat you. Also, understand there is a
differenee from being honest and forthright and leaving your front door open at night. The way I
see it, there is really not a lot to it.
SOME ADDITIONAL EARLY AMERICAN COPPER FINDS
Howard Speneer Pitkow
In two of my eight artieles for Penny-Wise (Volume XLII No.4 Issue #247, and Volume
XLII No. 6 Issue #249) I reeounted the events whieh ultimately resulted in my eherrypieking two
signifieant large eent finds-an 1851 eontemporary east eounterfeit and an 1797-NC5. Although
not as dramatie as my 1797-NC5, this ninth artiele details the events of some of my additional
finds in three separate transaetions sinee I re-entered the hobby in Mareh 2004 after a 45 -year
hiatus.
Find #1: As you may reeall in my first artiele for Penny-Wise (Volume XLII No. 3 Issue
#246) I beeame friendly with a loeal area eoin dealer, Alan Laden, who is president of both the
Liberty Bell and Double Eagle Coin Clubs (Philadelphia, PA.) and has beeome a valuable
reservoir of numismatie information. One afternoon in mid-Oetober of last year I reeeived a
phone eall from Alan pertaining to an 80-year old eustomer who had visited his store that
morning. It seems that the eustomer was trying to sell 56 large eents and two half eents whieh he
had aeeumulated as part of his vast eoin eolleetion over a 60 year numismatie eareer. After a
brief phone eonversation with the eustomer we both agreed, with Alan’s permission, to meet at
Alan’s eolleetibles store at 2:00 PM that afternoon. When I arrived the eustomer was already
engaging Alan in a eonversation about proof sets. After introdueing myself to this robust,
eongenial and outgoing gentleman, we got down to business. He retrieved several plastie sheets
from his attaehe ease eontaining the 56 large and two half eents. As I was inspeeting his eoppers,
he informed me that he didn’t have anyone to leave his eoin eolleetion and wanted to sell them to
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a serious advanced collector. He also told me that he had 1200 proof sets which he was selling to
a buyer in Florida. I politely listened to his stories, smiling at appropriate intervals, as I
continued to peruse his coppers. He eventually left me so I could concentrate on his collection
and again engaged Alan in conversation. I must admit that I felt a sadness exuding from this
obviously kind and apparently lonely gentleman.
After about 30 minutes I had pretty much evaluated the grade and condition of his hoard of
large and half cents. I estimated that there were approximately 45 large cents in the G to VG
category and 11 in the F to XF range. As for the two 1804 half cents, I graded them VG8 and
F12A^G8 respectively. It is interesting to note that all his coppers were encased in very old
buggers (2x2) which showed their age. It was my feeling that this seller had these coins in his
possession for 30 to 50 years, which meant that they were off the numismatic market for this
extended period of time. Based on the fact that they were out of circulation for such a long time,
I felt that I might find something of value in his copper collection.
Finally, I asked the seller what he wanted in compensation for his coppers. He explained to
me that he wanted to sell the coins as a lot and not “piece-meal”. It appeared that money was not
a motivating factor since he wanted his coppers to find a good home. He then proceeded to tell
me all he wanted was $350. Since I felt his price was very low, I proceeded to ask him if he was
sure that was all he wanted. He responded in the affirmative. I told him that I felt his asking price
was overly generous and that I accepted his offer. After some “small talk” I paid him the $350,
after which he thanked Alan and me, wished us luck, and left the store. I then proceeded to give
Alan a 10% finders fee ($35) for his efforts.
During the next few weeks I gradually attributed the 56 large cents and two half cents. There
were three interesting and relatively valuable finds. For example, there was an 1853 N31 (R4)
large cent in choice EF40 worth $260 according to the then-current 18^*' edition of my CQR
{Copper Quotes by Robinson). Also, there was an 1804 C6 (R2) half cent in VG8 worth $125
{CQR), and an 1804 C9 (R2+) in F12A^G8 worth approximately $100 {CQR). Additionally of
course I have the other 55 large cent coppers collectively worth a “pretty cent” (not penny). Yes,
both the seller and I were satisfied with the transaction. He got his price and a good home for his
coppers while I found a needed large cent variety (1853 N31) and other worthwhile coppers for
my duplicate large and half cent collections.
Find #2: On a Sunday morning in August 2008, I attended the Tri-State Coin Show held in
Fort Washington, PA. As I walked the bourse I visited a friend and a favorite dealer George
Mavrelos (President of the West Chester Coin Club in PA) from whom I frequently purchased
coins. As I looked over George’s showcases we began to talk. Knowing my propensity for large
and half cents, as well as 40 other numismatic entities, my dealer-friend informed me about a
1796 large cent he spotted in another dealer’s showcase. It just so happens that the “other” dealer
was someone whom I knew and had had dealings with in the past. As I looked at his 1796 copper
cent I could tell it was in AG condition with a price tag of $80. Since I have an affinity for large
cents from the 1700s (I have only 90 varieties plus 9 nine duplicates as of this writing) I decided
to negotiate for this unattributed copper. Eventually, we agreed on a price of $60.
Eater that night, using Sheldon’s Penny Whimsy, I attributed this 1796 (AG) copper as an
S85 (R5). When I went to my CQR I was amazed to find this S85 (average) listed at $300, or five
times what I paid for it! Not bad for an unattributed copper.
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Find #3: In June, 2008, 1 surveyed the bourse at the Trevose Coin Show (Pennsylvania) on a
Sunday morning. After visiting several dealer stations, I eame aeross one dealer who had an
1804 half eent (AG) mixed in with his large eent plastie sheets. He was asking only $20 for this
eopper. Sinee I would pay this amount for any half eent, I deeided to purchase it at his asking
price. I then put the half cent in my coin pouch and totally forgot about it. At another coin show
two weeks later I rediscovered this neglected copper in my pouch. I decided to attribute it for
posterity. Using Ronald Manley’s Flalf Cent Die States, I eventually attributed this 1804 (AG)
half cent to be a C4 (R5). According to my CQR, in the above grade and condition (average), it
listed for $400, or, 20 times what I paid for it. Again, another unattributed copper turned out to
be a significant and valuable find.
I am sure all of you have had very similar and probably more significant stories to tell about
your finds. I encourage all of you to submit an article about your discoveries to the editor of
Penny-Wise. I am sure the EAC readership would enjoy reading about other interesting and
unusual numismatic encounters. Let’s hear from you. I hope to be reading about your finds in
Penny-Wise in future issues.
The following is a reprint of an article appearing in The Daily Examiner, a San Francisco
newspaper, on Sunday, April 15, 1888. It was presented in the September 1973 issue oi Penny-
Wise and is here again presented for your entertainment:
VALUABLE COPPER
Big Cents That Are Worth More Than Their Weight in Gold
Famous Collections
General Phil Sheridan, Senator Stanford, and
Other Prominent Men Are Ardent Collectors.
(By the Correspondent from the New York World) Washington, March 22, 1888.
Of all the fads of Washington, the coin-collecting fad is the latest; and the numismatists of
the Capital increase daily. Generals, statesmen, and department clerks have now their coin
collections, and there are men here who pay $50 for a rare cent and have coin collections running
into the thousands of dollars in value. The most enthusiastic collector of the city is B. H. Collins
of the Treasury Department, whose specialty is copper cents, and whose collection is worth a
small fortune. Mr. Collins is as well posted as any man in the United States on the values of
different coins, upon the history of coin collections, and the peculiarities of collectors. I asked
him today as to the growth of this hobby and its hobbyists. He replied: “Coin collecting is on the
increase throughout the whole world. There are now forty ardent coin collectors in Washington,
and there are fully 10,000 people in the United States who own such collections. Of these, 3,500
are active, wide awake, and enthusiastic; and, as an instance of the wonderful growth of coin
collectors, the total number in the United States in 1852 was only seventy. In other words, there
are 500 times as many coin collectors in the country now as there were then; and we still
continue to grow. Among the present collectors in Washington are General Phil Sheridan;
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Senator Leland Stanford; Mr. Roessle, the proprietor of the Arlington Hotel; Colonel J. L.
Hodge; Captain Dutton; Surgeon C. C. Byrne of the United States Army; and others. Among
those who have eolleeted are Robert J. Blaine, the brother of the late Presidential Candidate; W.
S. Titeomb, the last Assistant Register of the Treasury, and the late Commodore Auliek of the
United States Navy. The most eomplete eolleetion of United States eoin issues in Washington is
owned by W. W. Hayes of the Pension Offiee; and the worst eolleetion of eents here or
elsewhere is in the National Museum.
“The most eomplete eolleetion of United States and Colonial eoins in the world, greatly
exeelling the eolleetion of the United States Mint, is owned by Coring G. Parmalee [Loren G.
Parmelee] of Boston. It represents thirty years’ eareful seareh and study; and its faee value is less
than $1,000, while its aetual eost has been more than $65,000. T. Harrison Garrett of Baltimore,
the brother of Robert Garrett, has a set of United States eents the probable faee value of whieh is
$2 or $3, but whieh eost him from $2,000 to $3,000; and his entire eoin eolleetion has eost not
far from $40,000. There are many entire eoin eolleetions whose eost and aetual value run from
$10,000 to $20,00; and nearly every eity in the eountry has its grand eolleetor. Julius Brown of
Atlanta, the son of Senator Joe Brown, has a fine lot of eoins; and so have J.B. Eyek of Albany,
H. H. Farrington of Saratoga, and others.”
“How does the eoin mania begin?”
“The eoin-eolleeting eraze begins in curious ways. The foremost collector of the United
States [Joseph J. Mickley 1799-1878], who died recently, became a collector through an
accidental desire to possess a big cent of the year of his birth, 1799. His collection was sold after
his death at auction. It brought $20,000, and it would today realize double that sum. The cost of
rare coins increases year by year, and the increase in value during the past five years has been
over 200 per cent. Coins must not only be rare, but they must be in good condition, and the best
are hard to obtain. A perfect coin of some dates is as rare as a Maud S, a peachblow vase, or a
Kohinoor diamond.”
“What are the leading specialties of the United States collectors?”
“Three-fourths of the collectors of this country collect United States stamps and Colonial
coins; and the others collect miscellaneous coins, ancient and modern, foreign and United States.
Some collect only certain series, some only gold coins, some silver, and some only copper. My
specialty is copper cents. Its coins are the rarest to be found in perfect condition, and the values
of copper cents are more certain. It is very hard to find fine specimens. The cents and half cents
have circulated to such an extant that they have become worn, disfigured, black, and smooth, and
rare cents in good condition are thus very costly.”
“Take the big cents, for instance. Their coinage began in 1793, and five prominent types
were issued during that year. Among these was the AMERI, which is worth from $5 to $170.
The Mickley cent of this coinage sold in October, 1867, for $110. It was resold at the Mackenzie
sale two years later for $145, and at the Root sale in 1878 for $170. E. G. Parmelee bought it. He
still owns it. This is the finest known cent of that variety, and its condition and cost are unique.
Owing to the fact that AMERICA was not spelled out, the AMERI cent was criticized and a new
die was made with AMERICA on the reverse. These cents bring from $75 to $100 each if they
are in perfect condition, and not more than a couple of dollars if they are worn or defaced.”
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“Then followed the Wreath eents, and these are worth from $2 to $75, aeeording to their
eondition. A eent, to be in perfeet eondition, must look as fresh almost as when it eame from the
Mint. It must not be worn or seratched. The figures must be perfeetly eut, and those rare eents
whieh have turned to a soft olive eolor are especially desirable. The difference in condition
makes tens of dollars difference in price; and while a fine cent may be worth hundreds of dollars,
a poor one is hardly worth as many cents.”
“What constitutes a perfect cent?”
“A Sharp, even, well-centered, strong, clear impression of light (olive preferred) color, never
circulated or cleaned, and no nicks, spots, bruises, or discolorations by handling or atmospheric
action.”
“The Liberty Cap cent was the handsomest cent of the series in 1793. Only half a dozen
perfect ones of these are known, and they would readily sell at public auction at from $100 to
$200 each. Mr. Cottier of Buffalo paid $200 for the one he owns; and at the auction sale of Mr.
Ed. Frossard in 1884 a nearly perfect specimen of this cent sold for $119. The general design of
liberty-cap on pole continued until 1796. In 1794, at least fifty-four dies were used at the Mint,
creating that many distinct varieties. These have been classified and portrayed by Mr. Ed.
Frossard of New York and Dr. Maris of Philadelphia, and their works are standard authorities on
the subject. There are a number of collectors who make a specialty of these varieties of 1794
cents, and we have two here, namely: Mr. Henry Phelps of the Agricultural Bureau and Mr. W.
W. Hayes of the Pension Office. Mr. Hayes, after a long search and much outlay, has succeeded
in obtaining forty-eight of the fifty-four varieties; and lately, through me, has become the owner
of an additional unclassified and un-noticed variety, which may be unique. I may add that a
complete and perfect set of these 1794 cents is not known to exist.”
“Why were there so many varieties?”
“It was because United States coins were then struck by hand and not by steam, as now. This
rule prevailed until 1836; and the outfit of the Mint in those days was crude and imperfect. Dies
broke more or less quickly and had to be replaced; and in the re-cutting of these, many
peculiarities and small variances occurred, which are now noted. One of the cents which is
prized by collectors is the fillet-head cent, which came in 1796 and lasted until 1807. In this
range appeared two of the rarest cents in the whole of the United States series. These are those of
1799 and 1804. Of the latter series, one absolutely perfect cent was sold for $300; and of the
1799 date, a perfect unworn specimen is not known in the world, and if such a coin were to come
upon the market, it would command from $500 to $1,000. Common specimens of both of the
above dates are obtainable for a dollar or two. A dealer now advertises a perfect uncirculated
cent of 1806 for $100. In his catalogue, just below this, a cent of the same date and marked as in
Very Good condition is offered for $5, and a Poor one could be supplied for ten cents. It is not
altogether the date of the coin that gives it extraordinary value. It is primarily the condition
which is considered unique, but a ‘find’ of a dozen or more in perfect condition would depreciate
the price.”
I have looked over some perfect cents of Mr. Collins’ collection, and was warned to hold
them very carefully by the edge. As I picked up some of 1794, 1797, and 1801, Mr. Collins said:
“These cents are perfect, and their value is from $20 to $50 each, though a legible one of the
same dates, slightly worn, can be bought for from 20 to 50 cents each. We have to be very
careful not to get the electro-types which were turned out some years ago and which were very
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good, but not perfect. I thought I had a sure thing of a perfect one three years ago, and a
storekeeper told me that a neighboring tobacconist had a valuable 1799 coin, but that he wanted
$50 for it. I went to his shop. He was out. I sat down and waited. I asked him if he had any old
coins. He replied that he had one of 1799 and that no less than $50 would buy it. He said that he
had frequently refused $25 for it, and that its condition was perfect. I suppose that it was a 1799
cent. I gasped in my eagerness as I asked him to produce it. He took out of his safe a most
carefully wrapped and boxed ten dollar gold eagle of 1799. I was disgusted. I told him that I
could easily furnish two others of the same kind for $25; and that had it been a cent of the same
date and condition, I would have been glad to give him his $50. He was incredulous, but I can
buy a dozen of such gold eagles for $11 or $12 apiece, whereas such a cent in perfect condition
does not exist, and I could resell it for several hundred dollars. Such disappointments are
common to numismatists. A friend of mine thought that he had a dead-sure thing of an 1804
dollar. He spent $30 in traveling expenses to the old lady who got it in the year of her birth and
who said it had never gone out of her family. He found it to be a Spanish dollar of 1804 - worth
just 88 cents!
“In 1808, a new design was adopted for the American cent, and it was continued until 1814.
These cents are known as Indian-head [sic! — Ed.] cents; and they are all rare in perfect
condition, especially those of 1809 and 1811. One of the 1809 cents sold in the Crosby sale for
$60; and as an evidence of the increasing value of perfect cents, the following extract from the
price-sale catalogue of the Mackenzie collection, sold in New York in June, 1869, gives the
history of an 1811 cent. It is marked Lot 653 and described as follows:
‘Uncirculated. The finest cent of this date I have met with; a most desirable
acquisition to a Cabinet. This cent was purchased by Mr. Leavitt of Cincinnati at
the sale of Mr. Cook’s coins in Boston for $12.50. When I sold Mr. Leavitt’s
coins, it was purchased by Mr. Lightbody for $25.; and when I sold this
gentleman’s collection, the present owner [Mr. Mackenzie] bought it for $45.’
It realized at this sale $72.50.”
-submitted by A1 Boka.
THE HOLMES S-264
Jim Neiswinter
When Doug Smith still lived in Brooklyn I used to visit him every few months. I would always
go on a Lriday after work, and we would go out for dinner and then go back to his apartment. I
always enjoyed looking at his cents (Draped Busts were his favorites), but most of all I loved
listening to his stories. Lot 526 of the Holmes sale brought one of these to mind.
As I looked at the pedigree of the second of Dan’s two S-264s, I realized when I saw Doug’s
name listed as a previous owner, that he had told me the story of how he acquired it. He said that Art
Kagin offered him this coin in the early 1950s. When Doug saw the coin he had to have it. The only
problem was that he didn’t have the money to pay for it. So he asked his father for a loan. His father
thought he was nuts to spend $800 for a penny, but he gave him the money anyway. Doug was so
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pleased about getting this eoin he showed it Dr. Sheldon. That was a mistake. Sheldon (who had
previously owned the eoin) thought Kagin should have offered it to him first and he wanted it baek,
so he started working on Doug to sell him the eoin. Doug held out until 1959 when, in one of the
most famous trades in the history of large cents, he traded the finest known S-264 to Sheldon for 77
gem middle date cents, that had originally belonged to Henry Hines. (I’m not sure if the 264 was the
only coin Doug traded to Sheldon, although I think it’s likely. I called Del Bland to ask if he knew.
He didn’t, but he did tell me that mint state middle date cents were “dirt cheap” in the 1950s.) One of
the key coins for Doug was an 1817 N9. He called this coin the “King of all the Greenies.” This N9
sold for $35,650 this past February as part of the Naftzger sale of middle dates. Who do you think
got the better of the deal?
By the time you read this the Holmes sale will be history. The estimate on the S-264 is
$30,000-UP. I wonder what Doug’s father would have thought about the price this coin will
bring.
OBSERVATIONS ON “SLAB WARS”
Alan V. Weinberg
Part One: What “Flavor” Slab Would You Like?
I’ve attended coin shows across the country for 50+ years now and continue to do so
because, in addition to fascinating acquisitions and seeing things I’d never seen before, I learn
something interesting at every single show. It’s a non-stop process.
The Los Angeles ANA was no exception. I’ve never slabbed a coin - like so many early
copper enthusiasts - and so I am relatively ignorant to the intricacies of this aspect of the hobby.
But something occurred at the ANA which completely turned my stomach and I thought I’d
inform EAC members of this.
I cannot use names as one of the parties involved asked that I do not mention his name for
fear of alienating the NCS/NGC parent firm.
A prominent advanced early copper collector sent another prominent early copper collector a
beautiful, raw, good medium brown and virtually immaculate Sheldon 2 Chain cent which I felt
comfortable at grading EF-40 by EAC standards. (I’m very “picky” on 1793 Chain cents, so if I
call it an EAC raw 40 coin, you know it is.) It was simply one of the best, most immaculate, and
problem- free S-2s I’ve ever seen. I myself was tempted, but I already own the Eord St Oswald
EE40 S-2 .
The second collector was considering acquiring the coin for approaching a six-figure price.
But NCS had returned it “body bagged” as having an “altered surface” with no further comment.
Say what? Both I and the collector considering it wondered what the NCS rep had seen that we
couldn’t see. There was no burnishing, tooling, re-coloring, smoothing, or rim-filing-nothing
whatsoever! It had hard, super-clean chocolate surfaces and detail. So, a meeting was held with
the NCS rep at the ANA-who would not explain or expand upon his diagnosis of “altered
surface” to anyone present. He simply quoted $5,000 (yes, five thousand dollars) to make things
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right and get it into a graded NGC slab. I thought this an uneonseionable extortion, of sorts, in
that the NCS rep would not explain why he diagnosed “altered surfaces” or what process he’d
perform to cause the coin to be “natural” again. But surely $5000, let alone $500 was excessive.
I’d guess he figured that the coin would appreciate in value much more than $5,000 once it got
legitimately NGC-slabbed and graded. So, on that basis, he or NCS figured “let’s charge $5,000
as the coin will appreciate $10,000 or more.” Perhaps good business sense, but ethically...?
The offer to NCS-process the coin at $5,000 was refused. I don’t know if the coin was
ultimately purchased by the advanced collector or returned to the owner but I suspect the latter as
NCS had essentially “poisoned” the coin by diagnosing it as having an “altered surface,” to be
remedied by a $5,000 payment with no explanation of why” conservation” was necessary or the
process of “conservation” used. For all I know, they’d apply Care and brush it.. .which didn’t
appear at all necessary - for a mere $5,000!
I thought the entire process was questionable and fraught with potentials for a form of
financial extortion and conflict of interest since NCS is owned by NGC. An easy way to earn
large amounts of money by “finding” or alleging something wrong with a valuable coin, a
“problem” easily remedied, and charging a good percentage of the artificially increased value
after the coin is “conserved” and slabbed with a grade. Unless, perhaps, the NCS can explain in
detail what the problem is and what procedure will be used to correct the alleged problem -
something NCS apparently finds much too confidential and proprietary now to reveal to a coin’s
owner.
In my opinion, something’s clearly wrong with that.
* * *
Part Two: Is an Ounce of Plastic worth $100,000?
I am not a “member” of the PCGS website Coin Forum but read it daily for entertainment, to
keep current on numismatic “gossip,” and to watch for trends amongst beginnner and advanced
collectors.
A topic of controversy, inviting many dozens of Forum responses, surfaced in late August-a
topic that is directly connected to the above commentary on NCS slabs and “grading.” Since I’m
guessing that the vast majority of EAC members don’t read the PCGS Coin Forum regularly, I
thought this distillation of what opinions and facts were expressed regarding a rare early copper
should be of interest.
I thank Andy Lustig for the title of this commentary in that it certainly reflects what was said
on the PCGS Coin Forum.
It seems that well-known and respected dealer Harry Laibstain (with a financial partner or
two, according to Harry) purchased, at this year’s late May Long Beach Heritage Signature
auction, lot 30, an NCS-slabbed “scratched, burnished. Fine details” 1796 No Pole half cent, for
$74,500.
His financial partner succeeded in convincing PCGS to slab it as a problem-free Fine 12 in a
PCGS slab, and Harry is now asking $175,000, reflecting a $100,000+ increase in market value
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and asking price in just a few months’ ownership, following its publie sale in a highly prominent
eoin auetion with 450,000 potential bidders (aeeording to Heritage’s own eustomer eount).
The following distilled observations were made on the PCGS Coin Forum, many by
knowledgeable numismatists sueh as Dave Wnuek and Andy Lustig. These are startling, “real
world,” and edueational eomments:
Most eolleetors and dealers will automatieally bypass any eoin being auetioned in an NCS
slab deseribed as “seratehed” or “burnished”- they won’t even look at the eoin at lot viewing.
This eoin was badly mis-deseribed as being “burnished” aeeording to very knowledgeable
numismatists (aside from Harry) who did examine the eoin prior to the auetion. And that
absolutely nothing was done to the eoin to improve its appearanee after the Heritage auction and
up through the time it was submitted to PCGS.
Getting a eoin into a PCGS (or NGC) slab and out of a NCS slab will greatly inerease its
market value and general appeal - even a $100,000 inerease! This “blankef’ statement was
agreed-upon in many Coin Forum eomments.
The eurrent asked-for $175,000 priee is based on PCGS’s priee guide for a 1796 half cent No
Pole Fine-12, and also allegedly refleets a legitimate prior private sale of a Fine - although
without the prominent old serateh on Liberty’s eheek. PCGS has slabbed only six (6) 1796 no
pole half cents in all grades.
Third party grading eompanies will overlook damage to a really rare eoin to, among other
reasons, reeeive the notoriety or prominence and reeognition of having a rarity in one of their
labeled slabs. Whereas the same damage or even less damage on a mueh more eommon eoin, say
a Fine-12 1795 half eent with eheek seratehed or even a field serateh, would not get overlooked
and the more eommon eoin will be “body-bagged” by PCGS and NGC. In other words, there are
two standards for slabbing - one for really rare eoins, and another for not-so-rare eoins. Should
there be two standards?
Burnishing of an early eopper leaves a distinctive movement of the metal - an artifieially
watery surface look, with “mushy” details and legends, over a previously seratehed or porous
surfaee. Tilting the eoin in the light under low magnifieation will reveal burnishing to even a
neophyte. It is not at all like a highly-skilled “plug” eovered by masterfully re-engraved details.
How eould NCS designate a eoin as being “burnished” if it is not? The Coin Forum’s greatly
enlarged image indicates an otherwise elean Fine coin, less the old eheek serateh. To quote a
numismatieally prominent Coin Forum eontributor who examined the eoin elosely: “The original
deseription [on the NCS slab and in the May Heritage eatalogue] was extremely harsh.”
Some have always alleged it matters who submits a eoin for slabbing and that some
submitters have more influenee than others in third party grading - possibly linked to their
numismatie prominenee and how many eoins and money they “feed” the slab eompany. But
numismatie prominence goes hand in hand with numismatie expertise, and it may be a
submitter’s expertise that ean eonvinee an NCS employee that their initial diagnosis was off the
mark.
All this goes to emphasize what was previously said in the eommentary on the S-2 Chain
eent. Getting a eoin out of an NCS holder and into a NGC or PCGS slab greatly inereases its
value. But, should a large dollar payment to NCS for an undetectable (if any) treatment to get it
into a legitimate graded slab be justified?
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LETTER TO THE EDITOR
Dick Punchard writes,
Having received a copy of the Dan Holmes Early Date Large Cent Collection Sale Catalog, I
was shocked to read that my discovery 1799 NC-1 was misattributed and supposedly an S-188
instead.
Upon purchase of the cent in 1979, I brought it to the following EAC convention, where no
less than nine fellow early date specialists examined the coin and confirmed my suspicion that,
indeed, it was a Sheldon 1799 NC-1 variety. And as such, it was added to my own early date
variety collection.
Ten years ago, I started disposing of my large cent collection, including the 1799 NC-1.
Through the intervening years, not one person has ever contacted me to challenge the attribution
of the piece. I assume all of the previous owners would have certainly re-attributed it to verify
the variety for themselves.
My reason for writing is, I believe I should have been made aware of this development by the
cataloger, prior to his devoting a half page to my so-called error, and the result to my friend,
Dan.
It is my hope that some day I may be able to view the cent again, and see for myself the
unintentional misattribution, if in fact it was.
“Print lasts forever, right or wrong.”
FROM THE INTERNET
Gene Anderson
New Members
Joining since our last report are Kirk Thomas, Robert Narasaki, Kevin Struss, and Mike
Brown. Region 8 now has 407 active members.
Bill Eckberg writes that a couple of VERY new EAC members have recently tried to sign up but
were unable to do that. He explained the problem - and its solution - to them. This is probably a
good opportunity to let everyone know that a person must be an EAC member in good standing
to get R8 posts. That means the member must 1) have his/her dues paid up and 2) be in the EAC
membership database. Number 2 is the hump over which the new members have to get. Persons
are added to the database ALTER the their names appear in P-W. So if you are encouraging new
EAC members to join Region 8 (and please do! ! !), be sure to let them know that Bill is not able
to include them in the list until after they have seen their names in Penny-Wise.
Member Comments
Leo Coursbon reported a Region 5 E.A.C meeting took place at the 28th Annual MidAmerica
Coin Expo held in Schaumburg Illinois. There were 23 members in attendance to hear a program
presented by Tom Reynolds on 1798 Large Cent Sheldon varieties. Tom has all the varieties of
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1798 starting at S-144 through S-187 which include 44 die varieties and two NCs (NC-1 and
NC-2) and he brought 21 examples of die varieties to share with the members present.
Robert Calderon notes that Dave Bowers’ eolumn regarding speeialty elubs in the June 22,
2009 issue of Coin World highlighted our reeent eonvention in a meaningful way. He said that
Beth Deisher advised him that more than 350 people attended her program and although she has
spoken at many Ameriean Numismatic Association forums, there have never been that many
people in the audienee. Bowers went on to say that to have a forum attendanee proportionately
equal, A.N.A. would have to have more than 7,500 people show up, but they will be lueky if 75
are on hand.
Mark Borckardt says the results of part I of his grading exereise are in. There were 25 people
who sent grades, probably a little more than he expeeted. As he suspeeted, the results of the
sharpness grade exercise are fairly consistent.
Bill Eckberg writes that “An Introduetion to the World of Early Ameriean Copper Coinage,”
whieh was produeed by EAC in 1983, ineludes deseriptions of grading standards. Please note
that the booklet does NOT inelude any grading standards for half eents or eolonials. The rest of
the booklet is eomposed of an extended glossary of useful terms for eopper eolleetors. Bill will
make a eopy of this doeument and assemble it as a PDE in its original, 32-page format and have
it posted on MyEACS.ORG.
James Rebmus reported an update on his attempt to form a budget-minded “C” eolleetion.
Choiee eopper remains very hard to find. He still has not found a choice half eent in a grade
below VE20. Nice average large eents and those that are slightly better are aetually not that
infrequent, but he would still guess that he looks at 50 eoins for every one that deserves more
attention - and most of those don’t measure up. He has added a ehoiee 1830 N5 VG8 and a really
nice 1831 N5 E12. He has yet to find a 1794 that truly meets the standard and ean still be
eonsidered a budget eoin. He has not found a 1793 of any variety that’s suitable below $3,000.
Eower grade eoins in the 1850s that still have good surfaees seem few and far between. Seven
months in and his large eent date set is only about half-done.
Tom Reed writes that he just reeeived his Dan Holmes sale eatalogue. He ean honestly say that
he has never, ever seen sueh a wonderful eolleetion. He read Dan’s biography, looked at the
eoins in the Part I sale, and ean honestly say that if he had the means he would buy every eoin in
this eolleetion and donate it to either the ANS or the ANA or EAC as a tribute to a gentleman
that truly put the love of the eoins, and the history of said eoins, above all else. What an
astounding eolleetion. He would venture that he will never see another sueh eolleetion come to
auetion in his lifetime.
Gary Hahn writes that the 17th edition of “The Common Cents Report” (CCR) has been mailed.
Please let him know if yours did not arrive. He has had a eouple of issues with old addresses.
Membership is free. Gary assumes most of the eost to print. Thank you to everyone who
submitted eolleetion data/updates. CCR #18 will be January 2010. Please feel free to send
updates/ehanges as often as you like.
Red Henry tells us a sineere “good work” goes to Gary Hahn, for publishing the 17th edition of
Common Cents. It takes dedication to compile and print a projeet like this. This 17th edition lists
51 late-date cent eolleetions, with every eoin listed and the eollections ranked, plus speeial
seetions on varieties with rotations and ends. Many of the eolleetions listed are AMAZING. You
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don’t need a big collection to join Common Cents. (You’ll find Red’s little late-date set WAY
down the list!) If you collect late dates, this project is for you. Only the project’s members may
receive copies so contact Gary at g.hahn@charter.net .
Charles Brown reports an interesting cherry pick. While searching web sites for coppers, he
came across an 1803 half cent which was unattributed. It was listed by a major, non-EAC, coin
dealer. The coin is in an NGC slab, with the following label; “1803 1/2C Cracked Planchet Mint
Error G 4 BN”. The coin has a dramatic crack running 80% of the width of the coin, running left
to right through the middle of the coin. On the obverse, the crack starts at the back of the neck
and runs right to the rim. On the reverse, it starts at the left wreath and runs right to the rim,
taking out most of the word “CENT.” The crack is completely through the coin. It’s very obvious
when looking at the edge. It’s a decent average coin. It has several nicks, mostly obverse. Also,
the coin is not a Good. It is a Very Good. Charles could tell that from the pictures, and confirmed
it when he received the coin. He used three grading guides: ANA, Bowers, and Photograde.
There’s no doubt, and he does not know why NGC called it G4. Before ordering, Charles
attributed it by the pictures using Cohen’s book. It is a C-2, the rarest 1803 and the only one
Charles didn’t have. He confirmed the attribution after receiving it. The attribution is not on the
slab, and apparently the dealer never bothered to check. Charles is very pleased with this
purchase. He has never had anything like it. Cohen says it’s R5, but CQR says R4 (with a VG at
$1000). Charles assumes there are about 125 of these left. Charles has no idea what it is worth,
and doesn’t much care. It could be worth more to an error collector, but less to an EAC member
who wants perfect plane hets. Charles says it always helps to browse around. You never know
what’s out there.
More On Grading
Thomas Reed stated again that people’s opinion can vary on the grade of any given coin. This is
the core of the problem with establishing any “uniform” grading standards. Once the grading
services get them and stamp their “official” grade on them... what should done? Just accept that
“this is what it is” and go on? Our organization needs to come together with a uniform standard
of grading.
Earl Sullivan says EAC does have a grading system and it’s been around a few decades. Every
new member use to get a little paperback book titled “An Introduction To The World Of Early
American Copper Coinage” prepared by Early American Coppers, Inc. He is not sure if this
book is still sent to new members. Grading for early dates, middle dates, and late dates is spelled
out clearly.
Phyllis Thompson added that the EAC booklet spells out the grading but doesn’t mention how
to deduct for flaws. Everyone agrees that is in the eye of the owner/beholder.
Alan Gorski wrote EAC members already have access to a written grading guide. He has used it
successfully for years. It’s clear, succinct, and easy to understand. He doubts that anyone could
do a much better job or they would have done so already. You’ll find it under the heading
****PEEASE READ THIS**** in Copper Quotes by Robinson. Jack ends with a word of
advice, “Common sense should prevail....” It works for Alan.
Chuck Hall says he has been reading and enjoying the comments and discussions on EAC
grading in Region 8. Like Phyllis Thompson, he also received “An Introduction to the World of
Early American Copper Coinage” prepared by EAC when he joined. He feels it is a very useful
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booklet as a guideline for EAC grading standards. Maybe now is the time to address other
pertinent faetors, sueh as surfaee defeets, appearanee, eolor, striking and luster in a little more
detail. After attempting to define these faetors as best as possible and trying to apply these
faetors to coppers, a better net grade might be determined and a better value could be triggered.
He does not believe a quantitative method with consistency would ever be agreed upon by EAC
members. But an effort could be made. As a novice, he would welcome any attempt to be more
fully educated and to improve his grading skills so he could better evaluate the value of Earge
Cent coppers.
Howard Aubin suggests it might be helpful on this EAC grading question to put a single coin up
and each week everyone gives their opinion of what the sharpness grade is and what the net
grade should be. Results could be posted and each individual, including the 98% that never
respond, could compare for themselves how close their standards are with the group opinion.
Howard prefers to only use grading as a guide for price and price is always flexible. The toughest
part is determining a price for the coin and in doing that, while grade is important, whether
Howard likes the coin or not is more important to him. Howard thought that pricing was what the
Sheldon scale was all about.
Jon Hanson says regarding grading copper that the only correct way to grade copper coins is to
have them in hand and not in slabs. The other problem with copper these days is the resurgence
of surface treatment, similar to the old days of the “wheel.” Jon is certain many of the “newbies”
cannot detect this copper treatment when a coin is in its slab.
John Koebert begins by saying that if he combines the following resources, he essentially
already has an EAC Grading Guide:
* ANA Grading Guide
* Every EAC Sale catalog (with photos)
* EAC Grading Seminar
* His own collection
The ANA Grading Guide is a reliable and consistent source for grading sharpness. EAC catalogs
provide descriptions and photos of coins that allow the reader to get from the sharpness grade to
the net grade. The EAC Grading Seminar is probably one of the best courses offered in
numismatics and it’s free. Take lots of notes. John uses his collection as a reference for when he
is planning to buy a new coin or an upgrade. Another resource is the coin shows where there are
lots of EAC dealers/collectors. John can’t make many of the EAC conventions, so Baltimore is
his backup to EAC. Three times a year, he gets to see the inventories of many EAC dealers, see
and talk with many EAC collectors who share new acquisitions, etc. The point is, he is looking at
a lot of coins and the more coins he see can see the better judge of coins he will become.
Rick Nelson added his perspective by saying technical grading can be regarded as a science, in
that all the details of a newly minted coin are consistent on all coins, making the grade of a coin
a measurement of the details remaining once the coin left the dies. Those who are not
consistently viewing coins can refresh their grading awareness by viewing and comparing
images of coins from various sources showing the details associated with each grade level. On
the other hand, net grading is an art. Without a standard for evaluating a coin’s defects the
amount of deduction is purely subjective. To those who consistently view a lot of coins, net
grading may be intuitive. But, to those who don’t see a lot of coins, net grading is guesswork at
best or even a mystery. Is a patch of corrosion worth one or two grade levels, is a scratch worth
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five or 10 grade points, and is a eoin with eorrosion, a serateh and a rim ding a larger deduetion
on an AU50 eoin or a VG8? These are not easy questions to answer. Not all patehes of eorrosion,
seratehes, rim dings or any other defeet are ereated equal. Eaeh defeet has seale and plaeement.
For example, a serateh has length, depth and loeation. Some light, hairline seratehes outside the
reverse legend may not be severe enough for a deduetion but an ineh long “pin” serateh on the
eheek or a gouge in the denomination definitely would be. Net grading ean get more eomplieated
when a eoin has multiple problems. A eoin may have two or more problems that individually
would not eause a deduetion but eombined they may. Or, a eoin may have one problem severe
enough to eause a radieal reduetion that may overshadow any other minor problems. What this
leads to is that net grading is a measured amount of deduetion for the severity of the defeet(s).
This measurement ean be stated as grade levels, grading points, or pereentages (faetors). Grade
levels and grade points are indireetly related, in that you may deduet for a eertain problem one
grade level, whieh might be 10 grade points at the high end of the grading scale but only four
points at the lower end. When deducting for multiple problems there may be one grade level for
one problem, a half for another, and a fraction for each of three others. Does the net grade cause
a 2 or 2.5 grade level deduction? The deductions were purely subjective and not based on any
measurable criteria. By establishing a factor or percentage for the (1) type of defect, (2) its
scale/size and (3) placement, it can be applied to the sharpness or Sheldon numerical grade to
determine its net grade. Scratches, for example, could be classified and factored as .98 for
hairlines, .96 for pin scratches, .93 for surface scratches .90 for a heavy scratch and .80 for a
gouge. To this you would apply factors for length and location. (Note-This is merely a concept
and the factors used here and in the following examples are purely for illustration purposes.) This
could be stated as an AU50 coin with a 5 mm pin scratch on the cheek as: sharpness grade 50
grade points times .96 for the pin scratch (type of problem), times .95 for length (scale), times
.85 for located on the cheek = 38.78 rounded to EF40. Take the same scratch on a F12 coin: 12 x
.96 X .95 X .85 = 9.3 or rounded to VGIO. Or, a VF20 with moderately-heavy corrosion fully
covering the surfaces on both sides might be 20 times .60 for corrosion, times .60 moderately-
heavy, times .50 full surface area = 3.60 or rounded to G4. A coin with multiple problems might
be EF40 times .96 for pin scratch, times .97 length 3mm, times .92 on the field behind head,
times .95 rim nick, times .95 3mm wide, times .95 1mm deep = 29.38 or VF30. At first this may
appear complicated but once you develop a “feel” for how the different types of problems affect
the coin, how severe they are, and where they are located, it should become quite simple. A
guide could be prepared by first categorizing the different types of problems: corrosion,
scratches, rim nicks, etc.; then, by providing photographic examples of their degrees of severity,
illustrate what areas of the coin are most sensitive.
Robert Dunfield commented, thanking Bill Eckberg for scanning and showing the early EAC
booklet. The booklet is interesting, but times and opinions have changed since the early 1980s.
For example, the 1983 “Introduction to the World of Early American Copper Coinage” states
that “defective cents are described as having edge dents, scratches and tooling.” Now how many
agree with that statement? The booklet does not mention net grading, but does state that “there
are three factors that determine grade: sharpness (i.e. wear), surface and color...”. How many
agree with that statement? The guide further goes on to explain that the grade of a coin should be
lowered one or more steps and that there should be deductions (for defects). These must have
been the formative years of net grading. Does anyone know when it was formally adopted?
Robert received a great deal of criticism for his comments in Region 8 several months ago about
net grading and his desire to better understand Dr. Sheldon’s grading ethic when it comes to
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defects and his solution; “Since there is no way of standardizing just how much a particular
mutilation damages a coin, it is probably best to grade the coin as if without the injury, and then
to list or describe the injury separately.” The ANA grading guide agrees, “...detracting marks,
such as those caused by normal circulation, such as scratches, abrasions, nicks and others should
be mentioned in the description abbreviation.” Nathan Markowitz stated it so well in the last
Region 8 .... ’’the EAC style of grading in its purest form is to facilitate communication about the
true appearance of the coin to fellow coin collectors or a potential buyer.” It was explained to
Robert that net grading was a necessity, at the very least, for the Condition Census. Robert has an
interesting story about the Census in response. He recently discovered a very attractive late date
that was given a grade and a top three rank in the Condition Census by one of our late date
experts (make that THE late date expert). Robert had this information for less than three days
when he was challenged by three EAC collectors about the grade and the Census rank being
incorrect! This is one reason why net grading does not work! We cannot agree on the grade and
as a result, the Census has little value! (Robert understands that the Census is never complete.) It
was mentioned by Alan Gorski that CQR is a great grading guide and a fine resource to
understand net grading. To some extent, Robert agrees that it is an excellent resource and he
buys every new edition offered. Robert really enjoys CQR and he can honestly say that he uses it
many times every day. He also has a copy of Noyes’ Penny Prices and the differences in these
two guides are astronomical! How do we account for the differences in prices for identical coin s
in identical grades? We all view these issues differently! CQR states that “an average coin may
be granular, porous, verdigris in small spots, may be cleaned and/or dirty and may have rim
dings.” How many agree with that? Robert knows a few collectors that dislike rim dings with a
passion! It is the “deductions for defects” problem once again and another reason why net
grading doesn’t work. Robert sincerely hopes that a three volume sharpness grading guide can
someday be written for every date, variety and die state. He knows that it would be a great deal
of work and an expensive set, but he would certainly buy one! The ‘deductions for defects’ issue
can be addressed in another written work, hopefully with some standardization and consensus.
The amount of copper expertise and talent in EAC currently is mind-boggling. Surely there is a
way to better define this issue so that we can all understand and apply it better and with greater
consistency. If EAC will do it, the major auction firms and the grading services will surely take
notice!! (“Build it and they will come....”)
H, Craig Hamling notes that Heritage no longer purports to offer EAC grades for the early
copper in their auctions. The catalogs received today for the ANA sales sport MRB (Mark
Borckardt) grades.
Giving a bit more perspective on grading, Robert Calderon states that apparently the
controversy regarding EAC grading is nothing new, as evidenced by past issues of Penny-Wise.
All one has to do is read back issues from the CD to see that this has been going on for a very
long time. Robert hopes no one expects it to end anytime soon. It is good reading and there is a
lot that can be learned.
Thomas Reed said after reading all the comments in the past three weeks he has decided that
there is no way on God’s Green Earth that there will ever be a universally agreed-to grading
system, even for such a specialized group as EAC. It seems to him that the mere fact of our
“specialized group” makes it even more unlikely that anyone could ever, ever come to some
universal agreement on grading. As a consequence, Thomas suggests we all read the guidelines
from the EAC Grading Guide included in the booklet “An Introduction to the World of Early
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American Copper Coinage,” the grading guidelines of “Copper Quotes by Robinson,”
and.. ..depend on your own brain. Do what Jack Robin s on declares so clearly: #1: Determine
condition (choice, average, scudzy). #2: determine sharpness. And #3: determine net grade.
Finally, look at the ANA grading standards book; there are some really helpful hints on
determining sharpness. Obviously this is all very subjective and individualized. And then buy or
sell based upon what you believe to be the condition of the coin you own or wish to buy. We
ain’t gonna solve this here... but it sure makes for interesting conversation.
Charles Brown stated that now that we have beaten the net grading horse to a bloody pulp, he
would like to lightly flog the “condition” horse. He had an EAC dealer present an issue to him
that he had never really thought about before. He says he takes into account the way a certain
year or variety usually comes when assigning a condition (average, average+, average-, etc.). So,
if 1813 cents nearly always come on bad, porous, ugly planchets, he might call one that is bad,
but not too bad, average-plus, because it’s better than most 1813’s. Charles, on the other hand,
might conclude that the same coin is average (or maybe even average-minus) because it is still
bad, even if not too bad. Charles has a hard time grasping that by virtue of being not as bad as
most 1813’s makes it average+. Charles has read, once again, the introduction to CQR regarding
condition, and can’t justify this dealer’s approach. Charles’s question is: Is this standard practice
within EAC? If so, it would seem to add another layer of complexity to assigning a net grade to a
coin. While on this subject, Charles has found that some EAC dealers seem a little loose when it
comes to assigning condition. He recently bought (until he returned it) a low-grade large cent. He
was told it was not necessary to net grade it down from its sharpness grade, and that it was
“average.” The coin had many deep scratches and a huge edge dent that showed on both sides.
The edge dent was so deep into the coin that it formed a nearly half inch flat spot on the edge.
Would most of you agree that a low-grade coin is still “average” with all of these problems?
Charles would like to hear what others have experienced with condition descriptions from EAC
dealers. He hopes this letter doesn’t sound like he’s complaining. He really just wants to better
understand the “rules” we live by.
Phyllis Thompson wrote in response to Charles Brown’s problems with an EAC member’s net
grading. He has to remember that although many, hopefully almost all, EAC’ers grade by strict
standards, that is not a requirement for membership. He must rely on good faith and return the
coin if it is not as expected. Unless that happens, an overgrading seller can go on to mislead
others. But if we as individuals are alert to misrepresentation, we can help prevent this person
from building his/her client list.
Bill Eckherg also responded to Charles Brown’s posting by saying he is not convinced that the
notion of “variety-specific grading” is either necessary or useful, but it is certainly out there.
When anyone suggests an EAC Grading Guide, someone inevitably comments that it would
require photos of all varieties in all grades. Bill is skeptical of this claim. While there are
unquestionably different striking characteristics for certain varieties that make them, perhaps, not
quite fit the standard grading procedures. Bill has never seen a clear cut example among the half
cents (He has not studied large cents as thoroughly) where two coins with the same amount of
detail were given different sharpness grades solely because they were different varieties. If a coin
is worn to VE or below, there is no way for us to tell exactly how much detail it had before it
entered commerce. That said, an assigned grade is just someone’s opinion, and opinions can
differ between knowledgeable people and even change over time. Grading standards are being
relaxed in much of American numismatics. What was once a nice EE (or even VE) is now called
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MS61, 62 or 63 by the grading services. They have certified many Buffalo nickels without a full
horn as VF and EF. By contrast, a reading of early drafts of Breen’s half cent book showed that
EAC grading standards for half cents have tightened a bit in the last 50 years. Coins offered on
eBay have to have “eBay grades” which are much looser than EAC grades, as buyers on eBay
expect different standards than you will find at an EAC convention. All of this means that one
coin can have several grades, depending on who is doing the grading, when and for what
purpose. Eook at the Dan Holmes catalog; when a coin has different grades from Noyes, Bland,
Grellman and PCGS, which, if any, is right? The bottom line is that if the coin doesn’t look to
YOU like it fits the grade/price that it was assigned/you are asked to pay, don’t buy it, no matter
who gave it that grade/price.
Inquiring Minds Want To Know
Jean Nauert asked a very good question. When did Chinese counterfeit coppers first reach
eBay? Is there any date (of purchase) before which a collector of average condition, common
varieties need not worry?
Kirk Thomas asked if anyone knew of an online resource for finding prices realized from the
Stack’s Halpem auction. Specifically lot 454. Lou Weissman responded to Kirk by stating that
Eot # 454 in the Stack’s Halpem sale sold for $1430.
Jerry Karinsky states that he has had an uncirculated 1852 large cent for a while and just took it
out to attribute it (N-4). He noticed that it’s got some green verdigris in 3 or 4 spots on the
reverse. He doesn’t remember it being there when he got it. He has it in a 2x2. Is there any issue
in storing these coins long-term in 2x2s? Is there any way he can remove the verdigris and/or
stop it from getting worse? He has noticed that many keep their coins in paper envelopes, but
that makes it harder to view them and increases handling.
Charles Brown responded to Jerry Karinsky. Charles has virtually his entire collection in E&T
Kointainer Safiips. Many have been in them for decades. He has never experienced any
degradation of any sort. Charles is aware that many EAC’ers like cotton or paper envelopes, or a
combination of the two. But, like Jerry, he likes to view the coins easily without handling them
all the time. Some collectors (and EAC’s “An Introduction to the World of Early American
Copper Coinage,” page 15) say that 2x2s can trap moisture. Charles has never experienced this.
He does place a silica gel pack in each drawer where he stores his coins. This method has
worked well for him, and he lives in a damp climate, the Pacific Northwest.
Bill Eckberg writes also to Jerry Karinsky by saying that copper is a very reactive metal
compared to gold and silver. Copper coins in flips get verdigris, those in paper/cellophane
holders get corroded, and those in plain envelopes turn ugly dark colors. Hard plastic holders
(including slabs) can keep the coin from sliding around (a very good thing that prevents wear), as
long as the fit is correct, but all plastic holders that Bill knows of can also let air/moisture in (a
very bad thing that allows corrosion). Most early copper collectors keep their coins in cotton
liners inside 2x2 paper envelopes. Coppers of all grades have been kept in this manner for
MANY years without deterioration. If you use this method, it is important to brush them every so
often, as the coins get very dry after a while, because the cotton liner sops up the oils on the coin.
Bill goes one step farther. He places the coin inside a (soft) polyethylene bag, which he folds up
to make an essentially air- and water-tight seal. This goes inside the cotton liner, and the whole
thing goes inside a 2x2 paper envelope. The poly bag keeps the oils on the coin to a much greater
extent than without it, but the coin still should be brushed every so often, if for no other reason.
299
because any dirt specks on the coin will eventually leave a toning/corrosion spot. Polyethylene is
inert and made of a completely different chemical than the soft flips that are not recommended
for storage. They do not contain the plasticizers that cause “green slime”. Any early copper
should be brushed from time to time, if for no other reason than it gives you a chance to take it
out, look at it and hold it in your hands.
Kirk Thomas said he had a question about storing/preserving coppers. Is there a “definitive
resource” in print or on the web dealing with the cleaning and/or conservation of coppers? He
knows that the basic principle is to avoid cleaning, but at what point does that change? When
DOES one remove verdigris? What’s the best way to deal with a given problem? Kirk has a late
date coin that was dug and still has dirt packed in the hair and denticles. Is there a Heloise-style
table that exists like one might expect for removing stains of various sorts from laundry? He has
heard that Blue Ribbon is a good investment and “treatment,” but how does the rest of the
membership feel about the subject in general? How long is it safe to keep a copper in an auction
flip? Are they OK for long term?
David Fanning asked if anyone has an image of the S-9 electrotype that sold in the 2007 EAC
sale (lot 113). He has one that sounds very similar and he would like to determine whether the
same host coin was used for both pieces.
Dennis Fuoss said that for some time, he has been making the observation that 1797 cents with
the reverse of 1796 (single leaves at the top) (Sheldon numbers 120 and 121) seem to be much
more prone to granular or corroded surfaces than the 1797 cents with other reverses. Dennis’
question is, has anyone else noticed this phenomenon? Has the topic been explored in Penny-
Wise (or elsewhere)? In reviewing the literature that he has on hand, he has learned that the
Breen/Borckardt text {Encyclopedia of U.S. Cents 1793-1814) has the most to say on this
subject. This book does indeed associate the 1797 varieties SI 20 and S121 with the 1st deliveries
of the year (between February and March 1797), and speculates that the planchets may have been
the lower quality Coltman blanks. Eater in 1797, planchet shipments from Boulton & Watt
arrived. Dennis would love to see one of these varieties featured for a large cent happening. That
would give him a chance to see some more “typical” examples, and maybe even some nice ones!
Nightmare on eBay Street
Tom Hart wished he was dreaming, but he wasn’t. He writes that each of us probably has a holy
grail, and we turn over every early copper rock to find it. As a middle date collector, the coin
Tom seeks, although not the only variety he needs, is the 1822 N14. On June 19 at about 8:30
PM, it appeared on eBay as a $ .99 auction. Tom sent the seller, a dealer from Texas who claims
on his website that he is “Your Rare Coin Specialist,” a question through eBay inviting him to
make this a Buy It Now item. He did not reply, so Tom watched the coin, refreshing his screen
every few minutes. Three hours passed. At about 11:30, Tom refreshed his computer one last
time before going to go to bed and found the item had been revised to a $350 Buy It Now. Tom
purchased the coin and received the usual email notice from eBay that he had won the item and
an automated thank you from the buyer. Tom immediately paid for the coin through PayPal and
received an email acknowledging his payment. The next morning, Tom received an email from
the seller. He explained that he had made the item a Buy It Now in response to another eBay
user’s request. He was sorry to tell Tom that he felt honor bound to sell the coin to that person,
who turned out to be a regular eBay buyer who is also an EAC member. Tom called the seller
(His number appears on his website), and they talked cordially for some time. Tom tried to
300
explain that they had a eontract that Tom had eonsummated. He still felt he had to sell it to the
other eBay bidder beeause it was the honest thing to do. Soon the seller refunded Tom’s
payment. Later that day, Tom and the seller talked again. He indieated that the other eBay bidder
(and fellow EACer) had told him what the eoin was. The seller had then shown it to a friend, a
former PCGS grader, who had called the coin a Good 5 (Tom calls it an AG 3 average-minus),
identified it as an N14, and offered him $5,000 for it. Now the seller told Tom that he was going
to try to sell the coin through Heritage [note that Heritage pulled the coin from its auction],
where he does some business. His wife had been laid off, he had huge bills to pay. . . Tom and
the seller have not spoken since, although Tom did email the seller stating his claim to the coin,
asking him to notify any potential buyers or consignees of the cloud to the title, etc. There is one
bright side to this story. After much searching, Tom has found a telephone number that allows
you to actually talk with people at eBay (866.643.2959). You will need to have a telephone PIN
which you set up in My eBay. The down side is that eBay will do nothing. On June 21, the seller
convinced eBay that the coin is counterfeit (!), and eBay canceled the auction. It can no longer
be viewed on eBay. Tom can’t leave feedback or file complaints through the usual online
channels. Tom has filed multiple complaints on the phone — against the seller, eBay employees
who canceled the auction, and the other user who interfered with his purchase (Yes, Tom knows
his eBay ID and name. The seller revealed that to him). EBay, however, will share no
information about the transaction, citing privacy concerns. As far as eBay is concerned, the
auction does not exist, except on Tom’s computer. Tom saved the auction page to his computer
after he learned that the seller was not going to complete the sale. Tom has notified several major
players in EAC of his claim to the coin. All have been supportive, with the exception of one who
never replied to my email. Why is Tom explaining this saga to the members of Region 8? Eor
selfish reasons, Tom would like to have the coin that he purchased. By alerting the copper
community, Tom hopes to place roadblocks in the seller’s attempts to sell the coin, hoping that
no one in the copper community would want to purchase a coin with a questionable title. Tom
also believes that this story provides a myriad of discussion topics. What is the grade of this
coin? What are your views about cherry picking? Should Tom have let the seller know what he
had? Should an unsuccessful buyer play sour grapes and thwart another’s purchase? And what
about one EAC member doing that to another? Those are a few issues that EAC members could
ponder. Tom continues to look for avenues to “encourage” the seller to honor their contract, and
Tom keeps searching for his personal holy grail.
James Rehmus comments that Tom Hart’s story is enlightening and disheartening — though
hardly surprising. James grades the coin about G6 details, net AG3 average-minus; VH (see the
July Penny-Wise) — and James wouldn’t have said a thing to the dealer. Most of them don’t
know copper that well but they do know and will react to any whiff of suspicion that a coin
might be significant. Bid and let the chips fall when you’re cherry picking. James knows some
dealers who he would inform about a special coin, but they are dealers he happens to see and
deal with regularly. With them it is all about relationship. In the rough and tumble of eBay, that
isn’t the norm. EBay’s response shouldn’t be a revelation. They see themselves as the provider
of a venue only, with little responsibility and no liability for the activities that take place there -
eBay is just the cyber location for a big flea market. It may be unpalatable to some, but if eBay
actually had to accept liability for transactions it could not exist in a litigious society. James has
accepted eBay’s stance as the price of having the extended marketplace. And in fact he has found
most eBay sellers honest and forthright if not particularly knowledgeable. In cherry picking we
301
are all guilty of a kind of larcenous impulse, surely more to be pitied (and sometimes envied)
than censured. The use of specialized knowledge, hard-gained, is not a crime.
Alan Brandon writes with a proposed approach for Tom Hart. If Tom Hart is a member of
ANA, and if the dealer is, he can file a complaint and go to mediation through ANA. If he has
the documentation on the transaction he says he has, and if how he describes the event is correct,
it seems to me he will win. But that will be up to ANA.
Rest In Peace
Tom Reynolds reported on the passing of long time EAC member Bill Yates. Tom traveled with
Bill to many shows over the years and always enjoyed his tales about his 30 years in the Air
Force, the coppers he cherry picked and, of course, his tales about Texas. He will be missed.
The untimely death of Don Valenziano brought forth a chorus of regrets from many EAC
members including Jack Conour, Ron Manley, Dennis Fuoss, Greg Heim, Ron Guth,
Roxanne Himmelstein, Jamey Price, Gary Apelian, Erin Finney, Mike Packard, Denis
Loring, Scott Barrett, Robert Dunfield, R, Tettenhorst, Jeff Gresser, and March Wells,
'k'k'k'k'k'k'k'k'k'k'k'k'k
SWAPS AND SALES
EACers are invited to submit their ads for inclusion in this column. Ads up to twelve lines are
free. ADS EARGER THAN 12 FINES MUST BE SUBMITTED CAMERA-READY, AND
PAID IN ADVANCE. A full-page ad is $150. Graphic and halftone setup is an additional $60
per page. One-half page is $75. One -third page is $50. Ads should be limited to early American
Coppers or tokens. Deadline for material to appear in the November 2009 issue is October 31,
2009. All ads must include the individual membership number of a current member in good
standing. Copy should be sent to the Editor, Harry E. Salyards, 606 North Minnesota Avenue,
Hastings, NE 68901.
IMPORTANT NOTICE:
Early American Coppers, Inc. publisher of Penny-Wise, does not examine any of the material
advertised in Penny-Wise, nor does it review any of the advertising therein. Early American
Coppers, Inc. assumes no responsibility or liability for any advertisement (or the material
described therein) and no part shall have recourse against Early American Coppers, Inc. All
transactions arising or relating to any advertisement in Penny-Wise shall strictly be between the
parties thereto. Complaints concerning advertisers (or respondents) should be referred to the
President of Early American Coppers, Inc.; complaints may result in abridgment, suspension, or
terminations of membership or advertising privileges.
JOHN D, WRIGHT, EAC #7 1468 Timberland Drive St. Joseph, MI 49085
The CENT Book I8I6-I839. The standard reference on this series.
Big, clear pictures, full discussions, easy attribution.
Fists at $125 plus postage.
Special to EAC members at $100 postpaid.
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CHARLES DAVIS, EAC #142
P.O. Box 547
Numislit@aol.com
Wenham, MA 01985
Sole distributor for United States Large Cents works by William Noyes:
United States Large Cents 1793-1794, all in color. New $195.00
United States Large Cents 1795-1797, all in color. New $150.00
1991 2 Volume set (1793-1814) and (1816-1839) $240.00
Add $10 shipping per order.
BILL NOYES, EAC #363 Box 428 Monument Beach, MA 02553
Penny Prices new Second Edition (2005) is now available for $39 postpaid.
The Official Condition Census for U.S. Large Cents new 320+ pages large format is $79
postpaid
Note: This is similar to the “Brown Book” issued in 1999, but covers 1793-1839 with more CC
entries per variety. Combines both the Noyes and Bland work for the past 30 years.
ALLAN DAVISSON, EAC #3299 Cold Spring, MN 56320 (our complete address)
(320) 685-3835 fax (320) 685-8636 coins@davissons.net
EXCEPTIONAL COPPER EROM THE 1790s: British tokens and books about them. We
publish Dalton and Hamer, distribute the new 19th century copper token reference and stay in
close touch with the British token market. We offer hundreds of 18th century “Conder” tokens
each year as well as other series including 19th century copper, silver and (occasionally) gold
tokens, British medals, British copper currency and out-of-print and important books and
catalogs about tokens. Write for a free catalog.
BILL McKIVOR, EAC #4180 P.O.Box 46135 Seattle, WA 98146
BmcKivor@iuno.com or Copperman@Thecoppercorner.com (206) 244 - 8345
Dealer in quality tokens at reasonable prices. Specialist in English "Conder" tokens. Evasions,
19th Century tokens, unofficial farthings, historical medals, and more.
Cobwrighfs book on Evasion Tokens available at $27 postpaid.
Many EACer's receive my free lists - get yours today.
Also - a work in progress - my new WEB SITE - www.Thecoppercomer.com.
303
ROD BURRESS, EAC #109
9743 Leacrest
(513) 771-0696
Cincinnati, OH 45215
For Sale: #4 Soft Jeweler’s Brush $8.50 eaeh.
Jeweler’s Tissue, 4x4 ineh sheets: box of 1000, $7.50; paekage of 250, $2.50.
Xylol, 4 oz. bottle, plus 100 wooden stiek Q-tips $4.00
Aeetone, 4 oz. bottle, plus 100 wooden stiek Q-tips $4.00
Wooden stick Q-tips: $4.50 per 500, $8.50 per 1000.
Blue Ribbon Coin Conditioner, 2 oz. bottle $1 1 .00
Cast Iron Notary Maehine, uneonverted, for the do-it-yourselfer $16.00
Heavy Duty 28 lb. Kraft 2x2 eoin envelopes, in gray, white, or brown:
$4.75 per 100, $20 per 500, $38 per 1000. (send SASE for samples)
Cotton Liners, 100 percent soft eotton flannel interior; fit inside standard
2x2 coin envelopes - package of 100 for $29. (send SASE for sample)
VIGOR lOx Triplet magnifying glass: very high quality opties - aplanatie, aehromatie,
with extra wide 13/16 ineh lens. The best glass on the market to my knowledge
for its size and priee. $59 eaeh, with eord.
Attribution Guide for Matron Head Cents, 1816-1835, approx. 37 pages $5.00
Add $7 per order for shipping ($7.50 western states). Any exeess will be refunded.
Shipping by UPS: You must give a street address
An interesting selection of 18th century British Tokens
plus some Regal & Colonial Coins and a few Odds and Ends
Many tokens currently listed on our web site and inventory is updated frequently.
Please take a look ~ comments and commentary welcome.
Always in the market to buy ^ contact me at your convenience.
GARY GROLL CTCC~EAC~C4~ANA
P.O. Box 255 White Hall, Va. 22987
443.223.0399 ~ gary@grolleoins.eom ~ www.grollooins.eom
MABEL ANN WRIGHT, EAC #78 1468 Timberlane Drive St. Joseph, Ml 49085
We still have some oopies of The CENT Book 1816-1839.
Ask anybody who has one or has seen one— you want this book.
We are selling what we have to EAC members at $100 postpaid.
304
PROVENANCE GALLERY OF 1 794 LARGE CENTS
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A brief history of large cent collecting and their collectors, descriptions of collectible obverse &
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Provenance Exhibit at the Early American Coppers San Diego convention. Prologue by John W.
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A1 Boka, 9817 Royal Eamb Dr., Eas Vegas NV 89145
Tel: 702 809-2620 - email: eac406@aol.com-www.1794LargeCents.com
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(201) 746-0027 Dickl793@optonline.net
EARGE CENTS AND HAEE CENTS EIXED PRICE EIST
Coins sent to EAC members on approval. Specialize in affordable collector coins. Eist updated
every six weeks or so.
Greg Heim, EAC # 3619 P. O. Box 277 South Plainfield, NJ 07080-0277
(908) 405-6408
WANTED : Colonials, Half Cents, or Earge Cents for consignment on eBay, which have a "per
lot" average of at least $150.00. I provide basic, straightforward auctions in a "no reserve"
format with excellent images and customer service. Please call or e-mail to request my fee
structure. Go to my website at www . gynandroidhead. com for more information.
EARLY COPPER AUCTIONS
Bob Grellman, EAC #575 P. O. Box 161055 Altamonte Springs, PE 32716-1055
(407) 682-9592 (home) (407) 221-1654 (cell) email: ljefferys@cfl.rr.com.
Consignments for Auction: I am accepting consignments for all McCawley & Grellman
(M&G) Auctions, including the annual EAC Sale and C-4 Sale (Colonial Coin Collector’s Club),
as well as auctions at commercial venues. Call for details and the options available.
Late Date Large Cent Book: The Die Varieties of United States Large Cents 1840-1857 is
available for immediate delivery. Every known die variety and die state of 1840-1857 cents is
fully described, with additional rarity information for rare die states. The book is a deluxe
hardbound edition, 464 pages, over 100 photos. Price is $100 postpaid. Autographed on request.
305
COIN mamitieb Online
(^luCilxt^ C^ovt^ux^^'
“Purveyors of Fine Chocolate Since 1 979.”
I5AVE W^^ITCIK E.V«'#700 • .lOIINAORE lELVI’ #5«83
WWW,€0INMAMITI]ER0M]LIN]E,C0M
1 -§®©-COIMS-® ©
William V. Amshay, EAC #3908 P.O.Box 81151 Phoenix, AZ 85069-1151
Email; ctcmcams@msn.com
KNOWLEDGE GIVES YOU THE EDGE! COIN LIBRARY FOR SALE!
25% DISCOUNT ON ALL ORDERS (not including postage)
These are just a few of the titles available; over 200 hooks and catalogs in all,
Denis Loring; Monographs on Varieties of Large Cents $45.
William Sheldon; Penny Whimsy $50.
Durst; Early American Coppers Anthology, copy #609 $45.
Bowers; American Numismatics Before the Civil War, signed $50
Plus many auction catalogs, with emphasis on large cents.
Also, a whole new section of Civil War Token books.
Write or email for a complete price list. Please include your mailing address.
306
Craig McDonald
EAC# 1540
Frisco, XX
Mahogany Coin Cabinets - Handcrafted from solid Honduran and/or African mahogany.
Measuring approximately 12”W x 10.5”D x 9”H, eaeh eabinet holds twelve trays made from
solid one-half ineh thick mahogany. Trays come with either 28 recesses measuring 1.25”
diameter, 20 recesses of 1.50” diameter, or 12 reeesses of 2” diameter. Your cabinet may be
ordered with any eombination of these three reeess configurations to equal the cabinet’s twelve
tray capacity, making the total eapaeity of your eabinet between 144 to 336 eoins. Images are
available at: http://www.fiickr.eom/photos/8312500@N05 . If you can not access the images,
contact me and I will email/mail them to you directly. Cabinets are priced at $325 for EAC and
C4 members. Estimated shipping eost is about $28 via Pareel Post or $40 via Priority Mail. To
order, or for more information, eontaet me by phone at 972-978-7710, or via email at
eabinetsbvcraig@aol.com .
John Dirnbauer, EAC #571 P. O. Box 196 Thomaston, ME 04861-0196
(207) 354-3573 email: iohn@iohndirnbauercoins.com
A Collector’s Dream
Colonials, Sheldon and Newcomb large cents by variety, numismatie literature and other
interesting material, offered for the first time in many years. These eoins, reference books, and
auetion catalogs come from our EAC dealer friends, national auctions, and a few eherry-picks.
Cheek it out at:
www.iohndirnbauercoins.com
I encourage you to call me with a trial order to see if you like the high quality, accurate
deseriptions, and fair priees. Coins sent on approval to C4 and EAC members. I am a long-
standing member of ANA, ANS, C4, EAC, NBS, and NENA.
Spencer Peck, EAC #3217 PO Box 526 OEDWICK, NJ 08858
spencerpeck@comeast.net
New Netherlands Coin Company. 60th Public Auction Sale. New York, Dec. 3-4, 1968. card
covers, 116 pages; 758 lots; 16 plates. Fine with photocopy prices realized. An incredible sale;
especially strong in Colonial and State issues. Adams A+. Candidate for one of the best executed
catalogs ever, w/pr ($75 p/p)
Stack’s. The Floyd T. Starr Collection of United States Earge & Half Cents. New York, June 13-
14, 1984. card covers. 156 pages; 893 lots; illustrated throughout as well as on 8 color plates.
Major Large and Half Cent Collection, w/pr ($75 p/p)
307
Alan V, Weinberg EAC#1899 23321 Aetna St. Woodland Hills, CA 91367
larislw@aol.com (818)348 - 3749
I'm a serious collector of 1793 Chain, Wreath and Liberty Cap cents. Complete with my Chain
cents in the EF-Unc grade I've sought. I'm now completing my Wreath cents and need the
Sheldon 5, S-8 and S-9. Years ago, pre-slabbing era, these (at least S-8 and 9) used to be fairly
plentiful in immaculate EAC-grade EF-40 to AU-58 so 1 delayed obtaining them. Now 1 need
them and the supply has dried up with type sets or in over-graded MS60+ slabs.
1 will pay top dollar for super-clean, utterly problem-free surfaces and rims, good color EAC 40
to AU-58 specimens of Sheldon 5, 8 and 9. Raw or slabbed but EAC grading.
Tom Reynolds, EAC #222 P.O. Box 390001 Omaha, NE 68139 (402) 895-3065
1817 N3 R2 VF20 $125 Medium brown with smooth, glossy surfaces. Slightly
sharper with a tiny obverse rim bruise at 1 ;00 and some very minor marks. Average+
1828 NIO R1 VF35 $650 Small Date. Reddish-brown with smooth surfaces. There
are some very tiny marks. Very scarce in better grades. Average+
1829 N8 R1 AU50 $1250 Medium brown with traces of mint red and choice, lustrous
surfaces. Slightly sharper with some very tiny marks. Tough dare in better grades. Average+
1830 N3 R3 VF30+ $500 Brown with smooth, glossy surfaces. Slightly sharper with
some very tiny marks. EX-Willard Blaisdell; Ted Naftzger. Comes with Ted's envelope with
"green ink". Average+
1831 N2 R2 XF45 $550 Small Letters. Medium brown with smooth, lustrous
surfaces. Slightly sharper with some very tiny marks. Condition Census #10.
Average+
See more of my inventory at: EarlyAmericanCoppers.com
David Johnson, EAC #5235 213 Brookwood Drive Chattanooga, TN 37411
dave4dawg@aol.com 423-240-4277
1722 Woods Hibernia Breen 144. EE 45. Choice hard smooth brown surfaces $625
1797 S-121b EAC 20/15 hard glossy brown w/some old fine rev scratches
Ex: EAC 2007 lot 182. $1,400
1798 S-145 VG 7 $500
1802 S-232 G6 attractive glossy brown $80
1802 S-232 VF 30/25 frosty brown and tan $625
1814 S-294 EAC XF45 PCGS 45 Choice smooth brown $3,750
Shipping and insurance are included. Photos available. Please e-mail me for photos/additional
info.
308
Gene Anderson, EAC #4718 P.O. Box 9037
ganderson@paristexas . gov
Paris, Texas 75461
Wanted for my personal collection;
Any EAC counterstamped coin issued to an attendee of an EAC convention.
R. E. Bynum saloon token.
Paris, Texas transportation token- Atwood/Coffee # 710 A Paris Railway Co.
Robert Calderon, EAC #5644 P.O. Box 333 Midland Park, NJ
1 am looking to purchase a problem-free copy of Walter Breen's Complete Encyclopedia of U.S.
and Colonial Coins. If anyone has a copy that they are willing to part with it would be
appreciated. Please contact me at ric463@verizon.net or (201) 445-6785. Thanks!
Earl Sullivan, Jr,, EAC #3286 3324 E. Orange Pearland, TX. 77581
basullv@swbell.net 281-485-7869
1822 N-10 E-15 Ave.+, Near choice. $100.00
1824 N-3 E-15 Ave., Double Struck, ex-Dick Punchard $155.00
1825N-6E-12 Ave., MDS $100.00
1830 N-7 VG-10+ Ave.+, Near choice $1 15.00
1831 N-1 E- 15+ Ave. +, ex-Dick Punchard $100.00
1831 N-10 1/2 E-15+, Choice cent. $125.00
1833 N-6 VE-30, Choice cent, ex- John Ward $225.00
1835 N-6 'A VE-25, Choice cent, ex-Dick Punchard $150.00
High resolution scans available upon request.
309
PUBLICATION ANNOUNCEMENT
The Washington Pattern Coinage of Peter Getz
By George Fuld
A meticulous census of all specimens known, accompanied by pedigrees, auction records, weights, diameters,
condition, detailed descriptions, and other pertinent data. Copies will be produced on a high quality laser printer
and will feature full-color enlargements of virtually all of the pieces described. Also included is a discussion of the
real status of Baker 23, the unique Getz Large Eagle pattern. In addition, the story of the Washington ladle, which
has a silver 1797 Getz Masonic medal. Baker 288, in its bowl, is documented for the first time in numismatic circles.
Special Discounted Price For orders received by December 31, 2009
□ Spiral-Bound Edition $75.00 per Copy Postpaid in USA No. of Copies
□ Cloth-Bound Edition $110.00 per Copy Postpaid in USA No. of Copies
Regular Retail Price For orders received by December 31, 2010
□ Spiral-Bound Edition $100.00 per Copy Postpaid in USA No. of Copies
□ Cloth-Bound Edition $135.00 per Copy Postpaid in USA No. of Copies
No orders will be accepted after December 31, 2010
Sub-Total
California Residents Please Add 8.75% Sales Tax
TOTAL
□ Check Enclosed or VISA □ or MasterCard □ No. Exp. Date.
NAME&ADDRESS
GEORGE FREDERICK KOLBE • Fine Numismatic Books
R O. Drawer 3100 • Crestline, CA 92325-3100 • www.numislit.com
Charles Davis
Numismatic Literature
Box 547
Wenham, Mass"® 01984
EAC 142
ANA 60027
Mail Bid Sale
Numismatic Literature
October 17, 2009
Significant Consignments from the Libraries of
Bob Vlack
Michael Hodder
John Lorenzo
&
a Specialized Library on British Tokens
With highlights including
Deluxe leatherbound set of the 21 Ford sales presented to Michael Hodder
Bound set of the American Journal of Numismatics - First 22 volumes
Frederick Taylor Photographic Plates - Set No. 3
John Story Jenks catalogue with 42 plates
1878 Crosby Early Coins of America
Elder’s 1918 McCoy Sale of Politicals with 18 plates
American Bond Detector
Marvin Masonic Medals w/Supplement - 2 Volumes
First Printing of Newman/Bressett Fantastic 1804 Dollar
Vlack’s Manuscript on Wood’s Hibernias
Complete set of Guide Books
Muntoni on Papal Coins
Near Complete British Numismatic Journal
Burns on Scottish Coins. 2 sets, regular & large paper
Dalton & Hamer, 2 original sets, one in wrappers and possibly unique
The Virtuoso’s Companion
(978) 468 2933
N umislit@aol. com
Catalogues available on request or on our website
http: / / www.vcoins.com/ ancient/ charlesdavis
1847 N-8 Coronet Head
Courtesy of an Anonymous Collector
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